Bitcoin hits new record high above $70,400 By Reuters


© Reuters. Representations of cryptocurrency Bitcoin are seen in this illustration picture taken in Paris, France, March 9, 2024. REUTERS/Benoit Tessier/Illustration/file photo

LONDON (Reuters) – 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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