Bitcoin (BTC) is flirting with new all-time highs, briefly making a marginal new ATH on some exchanges on Tuesday but still yet to break out over $70,000 with conviction.
Fueled by growing institutional adoption, Bitcoin’s staggering bull run has also reignited interest in the altcoin and meme coin market.
Meanwhile, the much-hyped Bitcoin Minetrix (BTCMTX) ICO is nearing $12 million raised, with investors scrambling to get exposure to the innovative crypto-mining startup.
Bitcoin Skyrockets to Within Striking Distance of ATH
The crypto rally that gripped the market over the past few months reached a fever pitch on March 5th, with Bitcoin rocketing to $69,000 on Binance against USDT.
According to data from CoinMarketCap which takes the average of several exchanges, BTC did technically make a new all-time high on Tuesday of $69,170 before an abrupt sell-off saw a $10k red candle form, before a bounce.
Several factors, like increased institutional interest and the recent launch of the first spot Bitcoin ETFs in the US, have fueled the staggering run.
With Bitcoin’s market cap now above $1.3 trillion, the frenzy has reached unprecedented levels.
24-hour spot trading volumes exceeded $80 billion mid-week as Bitcoin continued to soar.
However, the coin’s pullback mid week hasn’t been without its victims, as close to a billion dollars worth of leveraged positions were liquidated.
All eyes are now on whether Bitcoin can bounce back this week and make one final push well beyond November 2021’s high.
Bitcoin is still only 3% away from that price target at the time of writing, so it could make a renewed push to breach the previous record today.
BTC Smashes Fiat Milestones as Institutional Demand Continues
Interestingly, Bitcoin recently broke through multiple all-time high milestones against major fiat currencies.
Data from TradingView shows that BTC made a new high against the euro by breaking above €60,000 mid week – reaching an unprecedented €60,393.
This euro milestone comes just weeks after Bitcoin broke its all-time high against the Chinese yuan in late February.
Additionally, Bitcoin’s bull run has been charged by a tidal wave of institutional investment pouring into the crypto space.
According to the latest CoinShares report, crypto products recorded a staggering $1.8 billion in inflows last week – the second-largest weekly inflow ever.
Crucially, a vast chunk of the capital, roughly $1.72 billion, flowed directly into Bitcoin products as the OG cryptocurrency continues to cement its status as the preeminent digital asset.
This buying frenzy, combined with the buzz around BTC hitting all-time highs against major fiat currencies, highlights the coin’s incredible progress in early 2024.
Bitcoin Minetrix Presale Stuns Crypto World with Innovative Stake-to-Mine Model
While the Bitcoin rally has been capturing headlines, an innovative new project has quietly made waves of its own – Bitcoin Minetrix.
Putting a fresh spin on Bitcoin mining, Bitcoin Minetrix allows investors to earn BTC rewards simply by staking the project’s native token, BTCMTX.
This eliminates the need for expensive mining rigs or in-depth technical expertise.
Instead of purchasing power-hungry machines, BTCMTX holders essentially “rent” mining power through the Stake-to-Mine model.
In return, they receive a cut of the block rewards produced by the Bitcoin Minetrix cloud mining network, providing a much easier way for beginners to receive crypto exposure.
With more and more people looking to acquire Bitcoin, Bitcoin Minetrix’s user-friendly setup could be a game-changer.
Retail investors seem to think so, with the BTCMTX presale nearing $12 million in funding raised.
This means that the presale is over one-third completed towards its hard cap, and early investors can still purchase BTCMTX tokens at a rate of $0.0138.
The low presale price and buzzworthy Stake-to-Mine model have led to enormous interest on social media – Bitcoin Minetrix’s Twitter page now has over 23,000 followers.
Although the project still has an element of risk, due to it being in its early stages, Bitcoin Minetrix is a new crypto that investors are clearly paying attention to.
Visit Bitcoin Minetrix Presale
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