The price of the first cryptocurrency reaches $ 69 thousand after the release of data on record inflation in the United States
On November 10, Bitcoin has risen in price by more than $ 3 thousand, to a new all-time high of $ 69 thousand. As of 17:20 Moscow time, the first cryptocurrency is traded at $ 68.6 thousand.
The asset rate rose rapidly after the US Department of Labor reported that in October, consumer prices in the country rose by 6.2% on an annualized basis. This is the maximum since November 1990, when inflation was 6.3%.
Following bitcoin, the largest altcoins in terms of capitalization also went up. For example, the cost of Ethereum increased from $ 4.69 thousand to $ 4.81 thousand, while the price of Binance Coin rose from $ 647 to $ 662. The overall market valuation surpassed $ 3.1 trillion again.
The last wave of growth in the value of bitcoin started at the end of October. Then the first exchange-traded fund (ETF) based on bitcoin futures was launched in the United States. Trading Bitcoin Strategy ETF (BITO) started on October 19 on the New York Stock Exchange (NYSE).
In the first two days of trading, assets under the management of the bitcoin fund exceeded $ 1 billion. The fund broke the record for the growth rate to $ 1 billion, which was held for 18 years. Until that moment, the leadership belonged to the "gold" exchange-traded fund (ticker GLD) – it managed to reach $ 1 billion in three days in 2004.
In early November, large Bitcoin holders, whose addresses contain from 10 thousand to 100 thousand BTC, increased their investments in the first cryptocurrency by $ 2.8 billion in five days. During this period, large players bought 43 thousand BTC.
Analysts of the Santiment service suggested that the active period of cryptocurrency accumulation could cause its sharp growth by $ 3.5 thousand on the night of November 8. In 25 days, large investors bought 93 thousand bitcoins.