NewStats: 3,263,201 , 8,179,389 topics. Date: Thursday, 05 June 2025 at 03:51 AM 6n1d

Bitcoin breaks $70,000 in volatile trading, hitting a new record to end the week

KEY POINTS
The price of bitcoin jumped to a new record on Friday.

With the introduction of spot bitcoin exchange-traded funds in the U.S., big crypto moves now tend to take place during traditional stock trading hours.

The price of bitcoin jumped to a new record on Friday, breaking through $70,000 for the first time ever.

The cryptocurrency was last higher by about 2% at $69,304.84, according to Coin Metrics. At one point, however, it rose as high as $70,170.00, topping its previous record set on Tuesday. It’s on pace to end the week higher by 10%.

The up move began around the time the U.S. stock market opened. With the introduction of spot bitcoin exchange-traded funds in the U.S., big crypto moves now tend to take place during traditional stock trading hours.

The early advance may have been driven in part by investors who were weighing the February jobs report, hopeful that a higher unemployment rate and cooler than initially reported employment growth in December and January will clear the way for the Federal Reserve to begin cutting interest rates later this year.

However, crypto trading has been especially volatile this week. After bitcoin reached a new record on Tuesday for the first time in more than two years, it quickly tumbled as much as 10%, pulling down other cryptocurrencies and crypto stocks along with it, then recovering much of those losses the next day. The bitcoin historical volatility index is at its highest level in almost a year, according to TradingView.

“Navigating old highs is notoriously tricky and the bitcoin dam doesn’t tend to burst at the first time of asking,” said Antoni Trenchev, co-founder of crypto exchange Nexo. “Tuesday’s sharp bitcoin sell-off was healthy, necessary and a prelude to further gains. Volatility defines bitcoin bull markets and 2024 will be littered with sudden and gut-wrenching 10%-20% plunges.”

https://www.cnbc.com/2024/03/08/bitcoin-breaks-70000-in-volatile-trading-hitting-a-new-record-.html

Bitcoin has reached a new record price of almost $73,000 (£57,000), as the UK financial regulator said it would allow the trading of cryptocurrency-backed securities.

The cryptocurrency hit a fresh high of $72,720 as of Monday evening having last week overtaken its previous November 2021 high of nearly $69,000.

The latest price move came as the UK financial regulator said on Monday it would “not object” to investment exchanges creating a UK-listed market segment for cryptoasset-backed exchange traded notes [cETNs], a financial product that can be traded like a stock.

However, the Financial Conduct Authority said it would not permit the sale of the cETNs to retail investors, or of the public.

“The FCA continues to remind people that cryptoassets are high risk and largely unregulated. Those who invest should be prepared to lose all their money,” it said in a statement.

Bitcoin has been helped this year by the US financial regulator approving exchange-traded funds [ETFs] – a basket of assets that can be bought and sold like shares on an exchange – that track the price of the cryptocurrency.

The chair of the Securities and Exchange Commission, Gary Gensler, also expressed scepticism about bitcoin despite the approval, referring to it in January as a “speculative, volatile asset” used for illicit activities including ransomware and terrorist financing.

An “halving” of bitcoin, in which the amount of new bitcoin being generated is reduced, is also expected to the currency by causing a reduction in supply – and therefore bolstering the price.

Neil Wilson, the chief analyst at the brokerage Finalto, said the FCA move was a “positive” sign for the cryptocurrency market. He added that “parabolic” market moves – referring to sharp price increases – tended to end in a big pullback but “we cannot be sure with bitcoin any more”.

“There is a question of the amount of spare cash sitting around that can be allocated to it,” he added.

https://www.theguardian.com/technology/2024/mar/11/bitcoin-price-70000-in-record-high-cryptocurrency-crypto-fca

And no doubt, heavy losses too.

budaatum:
And no doubt, heavy losses too.

heavy losses to who?

press9jatv:
heavy losses to who?

Let's wait and see shall we.

Investment wisdom dictates that what goes up must eventually come down, and conversely, what is down must eventually rise. Therefore, it's essential to exercise caution when stocks experience significant gains, as a market correction or crash may be imminent. Conversely, when stock prices are low, it may present an opportune time to buy, as the potential for future growth is higher. , timing is crucial in investing, and assessing market conditions carefully can lead to more informed decisions.

budaatum:


Let's wait and see shall we.

yes. It will soon hit $100k per btc

BTC has helped writers who cannot stomach the virtual card palavers.

budaatum:
And no doubt, heavy losses too.

ignorance sprinkled with pain speaking..

and emilokan, has blocked many youths from partaking of this largese,....

Owo satoshi

In Nigeria a good number of uninformed ignoramauses will say crypto is a scam, and will hail the govt for banning Binance, in sane climes with sensible people they are making loads of cool money trading and dealing in cryptocurrency.

This country and its people are too backward and archaic in their thinking.

They don't know!!
Bull 🐂 run is coming..
Holders Hold, Your time is now!!

Bitcoin ETF Approval is just getting started...

malali:
Sell before it Halves.
And wait to buy again.

Thank me later.

This is pre Bull run, you must be an OT to know this.

Sell before it Halves.
And wait to buy again.

Thank me later.

The Nigerian Government can keep playing hostile to cryptocurrency while the sensible ones keep harnessing it to solve their problems and lift their people from poverty.

This technology will revolutionise the way we think about money. In fact, it has already started. Bitcoin and Ethereum is proving to be the most inflation proof assets even ahead of the dollar. Which Nigerians are eagerly buying instead of the latest shitcoin called naira.

Ironically, Nigeria is top for bitcoin adoption as most well meaning Nigerians will not yield to the clueless Nigerian Government that wants to keep you poor and ignorant at all costs.

Cryptocurrency is the money of the future.

press9jatv:
heavy losses to who?

people who will lose are the ones who are buying now. if you are not selling you will always lose. I don't know where your heavy loss logic is coming from.

press9jatv:

Bitcoin has reached a new record price of almost $73,000 (£57,000), as the UK financial regulator said it would allow the trading of cryptocurrency-backed securities.

The cryptocurrency hit a fresh high of $72,720 as of Monday evening having last week overtaken its previous November 2021 high of nearly $69,000.

The latest price move came as the UK financial regulator said on Monday it would “not object” to investment exchanges creating a UK-listed market segment for cryptoasset-backed exchange traded notes [cETNs], a financial product that can be traded like a stock.

However, the Financial Conduct Authority said it would not permit the sale of the cETNs to retail investors, or of the public.

“The FCA continues to remind people that cryptoassets are high risk and largely unregulated. Those who invest should be prepared to lose all their money,” it said in a statement.

Bitcoin has been helped this year by the US financial regulator approving exchange-traded funds [ETFs] – a basket of assets that can be bought and sold like shares on an exchange – that track the price of the cryptocurrency.

The chair of the Securities and Exchange Commission, Gary Gensler, also expressed scepticism about bitcoin despite the approval, referring to it in January as a “speculative, volatile asset” used for illicit activities including ransomware and terrorist financing.

An “halving” of bitcoin, in which the amount of new bitcoin being generated is reduced, is also expected to the currency by causing a reduction in supply – and therefore bolstering the price.

Neil Wilson, the chief analyst at the brokerage Finalto, said the FCA move was a “positive” sign for the cryptocurrency market. He added that “parabolic” market moves – referring to sharp price increases – tended to end in a big pullback but “we cannot be sure with bitcoin any more”.

“There is a question of the amount of spare cash sitting around that can be allocated to it,” he added.


https://www.cnbc.com/2024/03/08/bitcoin-breaks-70000-in-volatile-trading-hitting-a-new-record-.html

70,000 USD record high. That's a huge leap.

Conversely, invest ONLY what you can afford to lose. Period.

People don hammer


Quick sell b4 e shock u again


Make u see sumtin take buy benz

The best time to sell is now.

CRY TO CURRENCY

It is hitting the ponzi level, where people will put in money, do nothing and make more money. The next level will be catastrophic!!!

Hmmmm

Donchieli:
People don hammer


Quick sell b4 e shock u again


Make u see sumtin take buy benz

interesting


If you like yourself just buy it. Believe it or not, it is heading towards 100k to 200k

Go watch all my analysis from 2020


This was my analysis when it was around 19k


https://www.youtube.com/watch?v=71fHxc2btj4?si=Oa5JMfRQ_7uSLrBs

Sell before it halves..the best time to buy was sep/Nov last year. Most good alts are already up too.. seeing solana at 8 dollars. That was the time to buy.

iHart:
It is hitting the ponzi level, where people will put in money, do nothing and make more money. The next level will be catastrophic!!!

Many people have no clue of how the trend works. Nothing catastrophic but its all about trend correction and continuation.

Bitcoin will correct itself again but it will keep moving higher after every correction.

Blitzking:
Sell before it halves..the best time to buy was sep/Nov last year. Most good alts are already up too.. seeing solana at 8 dollars. That was the time to buy.

I will rather advise people wait to buy again .NOT TO SELL. Trading against the trend is like swimming against the tide.

iHart:
It is hitting the ponzi level, where people will put in money, do nothing and make more money. The next level will be catastrophic!!!

ponzi level,lol,de play

At this current energy of bitcoin it's looking good to break above 80k. Won't be surprised if it breaks above 100k before June ending.

superlanny:
In Nigeria a good number of uninformed ignoramauses will say crypto is a scam, and will hail the govt for banning Binance, in sane climes with sensible people they are making loads of cool money trading and dealing in cryptocurrency.

This country and its people are too backward and archaic in their thinking.

E tire person bruh,but when one exchange is down,another is exchange will spring up.goverment leaves substance and keeps chasing Shadow

It will go higher, buy now if you can

Last year January bitcoin was 16k
January 2nd this year it was 45k
We are just in March and it's 72k already
It will be very bullish in the next 6 months

Yea.

It's going to hundreds of thousands.

Konquest:

70,000 USD record high. That's a huge leap.

Conversely, invest ONLY what you can afford to lose. Period.

yes soo