Share this article
Bitcoin Tops $73.5K, Climbing Just Shy of New Record High
The largest crypto has extended its year-to-date gain to nearly 75% and has more than doubled from year-ago levels.
Updated Oct 29, 2024, 7:31 p.m. Published Oct 29, 2024, 7:29 p.m.
- Bitcoin on Tuesday pushed as high as $73,500, only about $300 below its all-time high set more than seven months ago.
- The world's largest crypto is now up nearly 75% year-to-date and has more than doubled from year-ago levels.
- The roaring success of the spot ETFs, new monetary easing cycles across major economies, and rising victory odds for crypto-friendly presidential candidate Donald Trump are among the positive catalysts.
Bitcoin surged to within a few dollars of a fresh all-time high price during U.S. trading hours Tuesday, rising to as much as $73,500 before pulling back a bit. The record high of $73,798 was touched on March 14 of this year.
At press time, the world's largest crypto was trading at $73,000, up 4.6% over the past 24 hours, roughly in line with the performance of the broader CoinDesk 20 Index.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin has been in a consolidation phase for multiple grueling months since its March 14 peak , dropping to as low as just under $50,000 at one point over the summer, but mainly sitting in roughly the $60,000-$65,000 range. The action tested investors' patience and left many concerned that the bull market cycle begun in early 2023 had already topped out. Multiple attempts for new highs were met with heavy selling from bitcoin miners and long-term investors, while breakdowns were quickly arrested and bought up.
The recent gain has brought bitcoin's year-to-date advance to just shy of 75%. The price has also more than doubled from its level of one year ago, when a rally began to get underway as it became understood that U.S. regulators had finally moved towards greenlighting spot-based ETFs. That approval ultimately came on Jan. 10 of this year.
Those ETFs became wild successes, with BlackRock's iShares Bitcoin ETF (IBIT) alone having taken in nearly $24 billion as of last week.
Among other catalysts for the rally are new monetary easing cycles begun in 2024 from nearly every major Western central bank as well as sizable fiscal and monetary stimulus from China, and the rising presidential election victory chances for the crypto-friendly GOP nominee Donald Trump.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Lebih untuk Anda
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
Yang perlu diketahui:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
