Bitcoin trades at $69,962 as dollar weakens and Ethereum rises
Bitcoin is almost at $70,000, just shy of the big milestone, trading at $69,962.
The recent jump comes as global tensions ease and the US dollar weakens, making investors feel more confident.
Over the past week, Bitcoin and Ethereum both saw solid gains (3.27% and 3.86%), though Bitcoin slipped a tiny bit in the last 24 hours.
Crypto market cap dips to $2.38T
Crypto's total market cap dipped slightly to $2.38 trillion.
Analysts say Bitcoin's climb is thanks to better macroeconomic vibes, short covering by traders, and steady institutional investments.
Akshat Siddhant from Mudrex noted Bitcoin's strong momentum near $70,000 after testing resistance at $71,800.
Vikram Subburaj of Giottus pointed out that even with economic uncertainty, Bitcoin stayed pretty stable around $69,700.
Traders eye $74,000 amid Trump remarks
Most traders are betting on prices going up, especially aiming for $74,000, but some are hedging against drops to $59,000 just in case things turn south.
Comments from US President Donald Trump about easing geopolitical tensions have also helped boost optimism across crypto and stock markets alike.