Bitcoin Breaks Record Surpassing $72K Amid ETF Hopes and Miner Earnings Spike
March 12, 2024Bitcoin hits a new all-time high surpassing $72,000, spurred by several financial developments.
Daily mining revenue has peaked at $78.6 million, influenced by the currency's increased value and interest rate cut expectations.
The US SEC's approval of spot Bitcoin ETFs has played a significant role in boosting miner revenues.
Bitcoin network difficulty has seen a slight decrease after previously reaching a record level.
Anticipation of the April 'halving' event is driving substantial investment in mining infrastructure.
Despite criticism from financial leaders like JP Morgan's Jamie Dimon, the market for digital assets continues to expand.
Grayscale Investments is introducing a new, more accessible spot bitcoin ETF, the Bitcoin Mini Trust.
Despite a minor dip to $70,000, Bitcoin's outlook remains bullish with analysts forecasting a potential rise to $80,000.
Summary based on 105 sources
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Sources
The New York Times • Mar 12, 2024
Bitcoin Price Extends Rally, Emboldening Crypto IndustryTradingView • Mar 12, 2024
BTC/USD: Bitcoin Chalks Up $72,000 as ETF Frenzy Pulls in $50 Billion in Record TimeWIRED • Mar 12, 2024
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