Bitcoin Reaches New ATH After Almost a Week at $94,000 The global cryptocurrency market cap stood at USD 3.2 trillion according to Coingecko
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After claiming USD 93,400 as the all-time high last week, Bitcoin has set a new record with USD 94,000.
At the time of publishing, Bitcoin (BTC) traded at USD 92,240.81, rising 0.84 per cent over the past 24 hours. Meanwhile, Ethereum (ETH) and Solana (SOL) dipped 0.75 per cent and 2.37 per cent.
The global cryptocurrency market cap stood at USD 3.2 trillion according to Coingecko.
The market rallied courtesy of the debut of the first Bitcoin Exchange-traded fund (ETF) options. Options contracts on BlackRock's spot BTC ETF and the iShares Bitcoin Trust ETF (IBIT) saw nearly USD two billion in total exposure traded, acting as a catalyst for pushing Bitcoin to its new high of over USD 94,000.
Sumit Gupta, co-founder, CoinDCX feels that the introduction of the options will "potentially boost liquidity and provide investors with more ways to gain exposure to the asset."
"This development represents a crucial turning point in Bitcoin's evolution, highlighting the growing institutional interest and a shift in market dynamics," he added.
Edul Patel, founder and CEO, Mudrex notes that escalating Ukraine-Russia tensions have put investors in a cautious mode. Meanwhile, CoinSwitch Markets Desk shared that a brief memecoin rally was overshadowed by corrections following BTC's pullback from its peak.
Earlier this week, Financial Times reported of Trump Media and Technology Group (TMTG), the parent company of Trump's Truth Social platform, being in advanced discussions to acquire Bakkt, a cryptocurrency trading platform owned by Intercontinental Exchange (ICE).
Purchasing Bakkt would be pivotal in Trump's crypto expansion plans.
