Bitcoin Soars: Record Broken as Price Tops $71,000

  • Bitcoin shatters its previous all-time high, reaching a record-breaking $71,000 per coin.
  • This surge comes just days after surpassing the $70,000 mark.
  • The rise is attributed to several factors, including:
    • Approval of spot Bitcoin ETFs in the US, allowing easier investment.
    • Inflow of cash into these new investment vehicles.
    • Speculation of an interest rate cut by the Federal Reserve, potentially boosting Bitcoin's appeal.
  • This rally strengthens Bitcoin's position as a leading cryptocurrency.
  • However, some analysts warn of potential volatility as the price climbs rapidly.

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