Bitcoin spikes above $70K, a record high, before fading
Bitcoin (BTC-USD) swelled above its own all-time high set earlier this week, momentarily popping above $70,000 on Friday morning.
Yahoo Finance Live monitors the cryptocurrency's monumental comeback in 2024, taking a look at how crypto-adjacent stocks have been reacting to the year-to-date movements (COIN, MSTR, MARA).
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
BRAD SMITH: Bitcoin-- taking a look at BTC/USD. It's just hit another record high. As of right now, you're seeing it just below $69,000. Bitcoin has been on a tear this year, up over 57% year-to-date. And it's certainly been one of the larger trending business stories, financial stories, currency stories over the course of this week. across social media as well.
SEANA SMITH: It certainly has. And as we've seen the price of Bitcoin rise, we have certainly seen many crypto-related crypto tied stocks also riding that wave to the upside. Coinbase, today, that crypto exchange, it's rallied 300% in the last 12 months. The move to the upside today, taking that stock up now and topping its direct listing price here, as Bitcoin surges.
We're also seeing gains from MicroStrategy, from Marathon Digital, from CleanSpark among the winners within the crypto space, as we see this rally that we saw starting in 2023 continue here throughout the start of the year.
And, again, Bitcoin closing out a record setting-- about to close out a record setting week with another record here today.
BRAD SMITH: Yeah. I'm looking at this price spike that we saw. And this is on the "Yahoo Finance" platform. Everybody can go on there, do some advanced charting as well here. But the spike that took place Eastern time at around 10:30-ish AM Eastern time, which pushed it to nearly $70,000 here.
So we'll continue to watch this, of course, going into the weekend. Crypto markets don't close.
