Bitcoin hits new record high above $70,400
The cryptocurrency has been boosted by a flood of cash into new spot bitcoin exchange-traded funds
Representations of cryptocurrency Bitcoin are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic
Bitcoin hit a new record high on Monday above $70,400, as the surge in the biggest cryptocurrency showed no signs of slowing down.
It rose to $70,488.50 in early European trading, LSEG data showed. The cryptocurrency has been boosted by a flood of cash into new spot bitcoin exchange-traded funds as well as hopes that the Federal Reserve will soon cut interest rates.
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