Bitcoin's Rollercoaster Ride: From Record Highs to Plunging Prices
TL;DR Summary
Bitcoin surged to a record high above $73,000 before quickly dipping, then recovering to around $71,000. The cryptocurrency's volatility has been evident as it repeatedly hits new peaks, experiences rapid dips, and then corrects. The recent hype around Bitcoin has been fueled by the approval of spot Bitcoin ETFs, which allow investors to gain exposure to Bitcoin without holding it directly. The price surge comes ahead of the upcoming halving event, which reduces the BTC rewards for miners and could impact the cryptocurrency's supply and price.
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