Market Overview

Bitcoin Price Shoots Past $60K, Ether Hits New All-Time High in Early Saturday Trading

Bitcoin’s price neared its all-time high of $61,712 early Saturday while ether (ETH, -0.12%) set a new all-time high at $2,190. According to CoinDesk’s Bitcoin price page, the leading cryptocurrency traded above $60,000 for the first time in nearly a month after spending weeks vacillating between $52,000 and the upper $50,000s. Bitcoin pulled back marginally after peaking around $60,900, though it remains above the psychological marker as of press time.

Bitcoin bulls were further bolstered on Friday by the idea that an exchange-traded fund (ETF) with exposure to the digital asset space might be approved in 2021, after the Securities and Exchange Commission (SEC) confirmed it was reviewing ETF giant WisdomTree’s application. The regulator previously began reviewing VanEck’s ETF application last month, and another six companies have filed initial registration forms declaring their own efforts to launch a regulated bitcoin (BTC, +0.38%) investment vehicle.

The broader digital asset space has seen tremendous froth over the past few months, with investors and industry participants trading heavily in decentralized finance tools, non-fungible tokens and altcoins like doge, which hit a peak of $0.08 in February, eight times its value a month earlier.

Bitcoin Price Shoots Past $60K, Ether Hits New All-Time High in Early Saturday Trading, CoinDesk, Apr 12

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