Bitcoin notches fresh record high for fourth time in six days (Cryptocurrency:BTC-USD)

Bitcoin (BTC-USD) reached yet one more all-time high in Wednesday morning buying and selling as inflows into exchange-traded funds investing immediately in the cryptocurrency continued to go robust.

The world’s largest digital token by market cap superior to as high as $73.6K, earlier than paring features to commerce at $72.8K at 11:35 a.m. ET. This marks the fourth time in six days the crypto has hit a fresh record high.

The value hike comes a day after internet each day inflows into spot bitcoin (BTC-USD) ETFs exceeded $1B for the primary time, BitMEX Analysis wrote in an X post. BlackRock’s (BLK) iShares Bitcoin Belief ETF (IBIT) skilled a record $849M of each day inflows.

Different main tokens additionally noticed shopping for stress. Ether (ETH-USD), in specific, rose as a lot as 3.3% to $4,083, solely to reverse features later in the session. The Ethereum blockchain is present process a long-sought software program improve, generally known as Dencun, that’s anticipated to considerably cut back bills for Layer 2 networks that function on high of Ethereum.

In all, the worldwide crypto market worth elevated 1.4% over the past day to $2.74T, based on data from CoinMarketCap.

Crypto-related shares, too, gapped up, with MicroStrategy (MSTR) climbing 9.4%, Coinbase (COIN) gaining 3%, Riot Platforms (RIOT) +2.4% and Marathon Digital (MARA) +2.3% on the time of writing.