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Bitcoin breaches $70k for the first time

Bitcoin broke a new high of $71,415, three days after Ether breached the $4,000 mark for the first time since 2021.

Bitcoin reached a new all-time high of $71,415 on March 11, after rising 2.62% in the 24 hours leading up to 08:05 am UTC.

The world’s first cryptocurrency rallied over 10% during the past week and 47% during the past month, according to CoinMarketCap data. The new all-time high comes three days after Ether breached the $4,000 mark for the first time since December 2021.

BTC/USD, 1-month Chart. Source: CoinMarketCap

Bitcoin hit a new all-time high 36 days before the much anticipated Bitcoin halving event set to occur on April 20, which will see mining rewards reduced from 6.25 BTC ($418,800) to 3.125 BTC ($209,400).

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