Bitcoin

April

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 Cover image via <a href="https://u.today/">U.Today</a>
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The price of <a href="https://u.today/bitcoin-btc-on-verge-of-losing-60000-is-shiba-inu-shib-ready-for-it-solana-sol-forms-reversal">Bitcoin</a>, the leading cryptocurrency, surged to a new intraday high of $68,276 earlier today on the Bitstamp exchange.&nbsp;
The cryptocurrency has touched its highest level since Apr. 12 after plunging to as low as $56,500 on May 1 due to stagflation fears.&nbsp;
It is worth noting that ETF flows remain correlated with the price action. Last week, Bitcoin ETFs experienced positive inflows on all five trading weeks, recording total net flows of roughly $950 million.&nbsp;
According to Bitcoin analyst Alessandro Ottaviani, if BlackRock's IBIT and other spot Bitcoin ETFs record&nbsp;<a href="https://x.com/AlexOttaBTC/status/1792527861913403817">more inflows</a>, the Bitcoin price could end up surpassing the $70,000 level in the near future.&nbsp;&nbsp;&nbsp;&nbsp;
Bitcoin's previous attempt to gain a footing above the aforementioned level resulted in a failure. After topping $70,000 and surging as high as $72,756 on Apr. 8, the cryptocurrency ended up crashing as much as 17% within just nine days.&nbsp;
As&nbsp;<a href="https://u.today/heres-why-bitcoin-btc-suddenly-surged-to-64000">reported by U.Today</a>, the Bitcoin price recently experienced a substantial rally following the most recent CPI report, which showed cooling US inflation. Bitcoin is expected to benefit from multiple rate cuts this year.&nbsp;
This Monday, the largest cryptocurrency has spiked in tandem with the Nasdaq 100, which is up 0.82%. The correlation between Bitcoin and tech stocks recently hit its&nbsp;<a href="https://u.today/bitcoin-btc-trading-in-tandem-with-tech-stocks">highest level</a> in almost a year.
The largest cryptocurrency by market capitalization peaked at $73,737 on March 14. As of now, it is 7.4% from its peak. As <a href="https://u.today/tom-lee-doubles-down-on-150000-bitcoin-price-call">reported by U.Today</a>, analyst Tom Lee is convinced that the cryptocurrency is eventually going to hit $150,000 in 2024. &nbsp;

Bitcoin Bulls Push BTC Price Past $68K. Is $70K Next?

U_Today

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