Bitcoin advanced over $71,000

The price of Bitcoin (BTC) surged above $71,000, to its highest value in over two weeks.

It sees the leading cryptocurrency moving closer to retesting its all-time high of $73,777 which was set in mid-March. Bitcoin is up 3.5% week-on-week.

The strong performance has followed January’s ETF breakthrough – in which the US Securities and Exchange Commission's (SEC) approved the first ‘spot’ bitcoin ETFs, which has spurred institutional buying interest.

Bitcoin is up nearly 70% in 2024 in the year to date.

Ethereum (ETH), the second-largest cryptocurrency, has also improved recently helped somewhat by a similar process to get ‘spot’ Ethereum ETFs approved in the United States.

The price of Ethereum is about 1% higher over the past 24 hours, with Eth changing hands at $3,850.