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Bitcoin Surpasses $65,000, Reaching Highest Level Since November 2021

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On March 4, 2024, Bitcoin (BTC) climbed above $65,300, within $4,000 of its all-time high.

At the time of writing, BTC has fallen below this value, currently trading at $65,1050 and only 6% away from hitting the all-time high (ATH), according to CoinMarketCap. Trading volumes continue to reach new levels, increasing 80% to $40 billion.

The Fear and Greed Index reached 82 points, according to Coinstats. Over the last 24 hours, the indicator has decreased by one unit. “Extreme Greed” is indicated on a scale from 76 to 100. Such index indicators can indicate that FOMO sentiment is prevalent in the market.

Bitcoin surpasses $65,000, reaching highest level since November 2021 - 1
Source: Coinstats

Against the background of a rise in the rate of the second largest cryptocurrency, Ethereum (ETH), showed growth above the level of $3,500. ETH is testing a multi-year high, reaching $3,520. The last time the token reached this level was over two years ago – in January 2022.

Among the top 10 by capitalization, Cardano (ADA) and Dogecoin (DOGE) show the most significant growth – 8% and 24%, respectively. At the same time, against a backdrop of market growth, the capitalization of the stablecoin USDT reached $100 billion (+9% since the start of the year).

Cryptocurrency analyst PlanB earlier predicted that Bitcoin would surpass $100,000 during the 2023-2024 bull run. Previously, he correctly predicted cryptocurrency quotes in August, September and October. The analyst is known for using the stock-to-flow (S2F) model, which assumes that the price of Bitcoin will reach $1 million after 2024.

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