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Bitcoin Prices Reach New All-Time High of Over $4,500
Following two days of sideways trading, bitcoin prices have once again reached record levels.
Updated Sep 14, 2021, 1:56 p.m. Published Aug 17, 2017, 10:34 a.m.
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Following two days of near sideways trading, bitcoin prices have once again reached record levels.
Since setting its most recent all-time high of $4,483 on August 15, prices have fluctuated in the $4,000–$4,200 range until starting to rise once again Wednesday afternoon.
This morning, however, after a slight drop early on at 3 a.m. UTC, vigorous trading has seen the price of the crypto asset rapidly climb to a new high of $4,501 at around 11 a.m. UTC.
At press time, the price stood at $4,495 – a 1.58 percent gain for the day so far, according to CoinDesk's Bitcoin Price Index.
Bitcoin's market capitalization now stands at over $73 billion, up from $68 billion two days ago.
Looking at wider market, the combined market cap for all cryptocurrencies has also reached a new all-time high of $144.7 billion, according to CoinMarketCap.
Chart image via Shutterstock
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Bitcoin claws back to $70,000 on cooling inflation after $8.7 billion wipeout
Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.
What to know:
- Bitcoin’s price recovered above $70,000 after a drop, driven by cooler-than-expected U.S. inflation data and increased risk appetite.
- Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.
- $8.7 billion in bitcoin losses were realized in the last week, potentially signaling a capitulation event and a shift of supply to stronger hands.
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