Bitcoin hits new record high above $70,400

By Thomson Reuters Mar 11, 2024 | 2:25 AM

LONDON (Reuters) – Bitcoin 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.

(Reporting by Harry Robertson; Editing by Amanda Cooper)