(Finance) – The cryptocurrency race is unstoppable. Bitcoin gains over 5 percentage points and surpasses its previous historical record of 69 thousand dollars. The digital currency reached $69,200. The previous record was $68,982.20 and was set in November 2021.
“One of the main drivers of the cryptocurrency rally is the still substantial inflows into spot ETFs on Bitcoin given that the introduction of ETFs has made investments in Bitcoin available to a wider range of investors”, underlines Walid Koudmani, chief market analyst of XTB, an international fintech listed on the Warsaw Stock Exchange, regarding the performance of Bitcoin .
“Cryptocurrency has benefited from the increase in capital coming from ETFs and the increase in interest linked to it‘halving. From a technical point of view – explains the expert – we can see that the price has retreated from the resistance zone and is now testing potential short-term support while the RSI is not yet in overbought or oversold territory. It is very important to remember that price movements could be large and volatility could increase if a breakout were to occur.”
New historical high also for goldsupported by the prospects of rate cuts by the Federal Reserve, after the latest macro data released in the United States. The price of the yellow metal jumped 1.27% to $2,145.40, surpassing the all-time record set at the beginning of December when it reached $2,135.39 an ounce.