Bitcoin hits $70,000 milestone

Seven figures was always the dream. But $70,000 turned out to be the milestone that mattered first. Bitcoin crossed that threshold on March 8, 2024, touching an intraday high of $70,105 before pulling back to close the session near $68,300. The number itself is arbitrary, but the forces that pushed Bitcoin there were anything but. Two engines were running at full throttle: fresh institutional money pouring into newly approved US spot Bitcoin exchange-traded funds, and widespread anticipation of the April 2024 halving event. Together, they created the kind of demand shock that makes round numbers suddenly feel inevitable. Why $70,000 was more than a number The US spot Bitcoin ETF approvals earlier in 2024 changed the structural picture. Institutional capital, which had previously needed workarounds like futures-based products or offshore vehicles, suddenly had a direct, regulated on-ramp. The inflows that followed were substantial, and their effect on spot prices was visible almost immediately. The halving narrative added fuel. Every four years, the rate at which new Bitcoin is created gets cut in half. Traders were already pricing in expectations months before the April 2024 event ...