Bitcoin Price Crosses USD 71,000 Mark for First Time Due to Boosted Demand From Investors: Report

Bitcoin has topped the $71,000 mark for the first time, showing the rising demand in the crypto market. On March 8 (Friday), the cryptocurrency was reported to cross over the $70,000 mark for the first time.

According to the report by Moneycontrol, the demand for Bitcoin has been boosted by the new U.S. Spot exchange-traded crypto products and expectations for global interest rates to fall.

Since the past few weeks, Bitcoin prices have been rising due to the billion-dollar inflow into ETFs. The report said that the US SEC (Security Exchange and Commissions) approved 11 spot bitcoin ETFs in late January. Bitcoin Price Increases to ‘USD 59,289’ for First Time Than ‘USD 16,487’ Recorded in January 2023.