After breaking records earlier in the week, Bitcoin hit a new record high on Friday and briefly exceeded $70,000 for the first time, according to some price indicators.
Crypto exchange Coinbase reported that Bitcoin price hit a record $70,088.04 in New York on Friday morning.
According to Coinbase, Bitcoin (BTC) was trading at around $67,200 at the time of publication, about 4% below its peak.
According to market data, Bitcoin hit a high of $70,199 against the dollar on Binance, but only $69,845 against Tether's USDT stablecoin.
The price move came after Bitcoin broke records on Tuesday, surpassing $69,100 for the first time. CoinGecko, which uses a volume-weighted average formula, had Bitcoin's Friday high at $69,255.77.
Analysts say traders' interest in crypto has returned across the board. Ether (ETH) briefly hit $4,000 for the first time since December 2021.
Memecoins are also leading the market returns again, analysts at Ryze Labs said in a note on Friday.
“The revival of retail interest is also evidenced by the resurgence of meme coin mania, exemplified by the meme coin WIF or 'Dogwifhat', which has seen a staggering 1,250% increase year-to-date,” said analysts at Ryze Labs.
“Market momentum has shifted to a bullish tone, with most tickers posting significant gains on positive news without returning to previous levels.”
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