Bitcoin Retreats After Record-Setting Run That Topped $69,000

Bitcoin earlier surged to record above $69,000 on ETF demand
Largest digital asset scales all-time peak achieved in 2021

WATCH: Bitcoin hits a record high. Shana Sissel of Banrion Capital Management comments on “Bloomberg Markets.”

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By Philip Lagerkranser

March 5, 2024 at 3:04 PM UTC

Updated on

March 5, 2024 at 9:49 PM UTC

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Bitcoin surged to a record for the first time in more than two years, yet the original cryptocurrency didn’t stay at its new all-time high very long as many traders appear to have taken the opportunity to book some profit.

The token jumped as much as 2.5% to $69,191.95 shortly after 10 a.m. in New York, then almost immediately reversed course in a plunge that at one point sent it 14% below the record to $59,317.16.