As of 8 a.m. ET, the price of bitcoin, or 1 BTC, was $66,418.81. The crypto’s highest intraday price in the past year was $73,750.07 on March 14, 2024. The chart above pulls data as of 8 a.m. ET daily and doesn’t display intraday highs or lows.

Institutional investors have doubled down their Bitcoin purchases in the recent past in a bid to hedge against global inflation.

Data from market intelligence firm CryptoQuant, analyzed by independent analyst Axel Adler Jr, shows that 94% of Bitcoin ( BTC) supply is currently in profit, with the “majority of coins having been purchased at the $55K level.”

Bitcoin reached an all-time high of $73,750.07 on March 14, 2024. The lowest intraday price it traded in the past year was $29,481.75 on Oct. 21, 2023. Bitcoin is up 128% year over year. The original cryptocurrency debuted in January 2009.

On October 21, open interest in Bitcoin derivatives reached an unprecedented high, indicating a robust engagement in the market as the price of Bitcoin approached the $70,000 threshold. CoinGlass reported that the open interest (OI) on Bitcoin futures contracts had escalated to a record $40.

A group of BTC miners, including Riot Platforms, Clean Spark, and Mara Holdings, is throwing their weight behind the new Bitcoin Voter PAC, as competition intensifies to influence the outcome of the 2024 election.

BTC dropped below $50,000 but rebounded above $54,000. Resistance was confirmed at $61,400, leading to a pullback. Overbought RSI hints at a limited upside before