Bitcoin surged past the $70,000 mark for the first time on Friday, briefly reaching a historic high of $70,105 before retreating to $68,317.72, as a wave of optimism and strong inflows continue to fuel a broader crypto rally.
 

The latest milestone highlights a resurgence in investor interest, following the launch of U.S. spot bitcoin ETFs, which have attracted billions of dollars in capital since their approval by the U.S. Securities and Exchange Commission in January. These instruments have played a key role in rekindling confidence after a prolonged "crypto winter" defined by bankruptcies and market uncertainty.
 

In the week ending March 1, net inflows into the top 10 U.S. bitcoin ETFs totaled $2.2 billion, with BlackRock’s iShares Bitcoin Trust alone accounting for more than $2 billion, according to LSEG data. This surge reflects not only growing retail participation, but also the entry of institutional investors, many of whom previously viewed the asset class as too volatile.
 

Market sentiment is also being buoyed by two major catalysts on the horizon:
 

1.Ethereum’s upcoming network upgrade, expected to enhance the performance and scalability of the world’s second-largest cryptocurrency, Ether, and
 

2.Bitcoin’s "halving" event in April, which will cut the rate at which new bitcoins are created—traditionally a driver of price appreciation due to reduced supply.
 

Despite strong fundamentals, the market continues to reflect bitcoin’s inherent volatility. Earlier in the week, Bitcoin fell over 10% after reaching a then-record high, dropping below $60,000 before rebounding sharply.
 

“Navigating old highs is notoriously tricky, and the bitcoin dam doesn’t tend to burst at the first time of asking,” said Antoni Trenchev, co-founder of crypto lending platform Nexo. “Volatility defines bitcoin bull markets, and 2024 will be littered with sudden and gut-wrenching 10%-20% plunges.”
 

Other cryptocurrencies are also riding the wave. Ether (ETH) has risen over 60% year-to-date, and was last seen trading at $3,939.84, up 1.62% on the day.
 

Crypto-related stocks echoed the momentum, with Coinbase (NASDAQ:COIN) climbing 8.2%, and mining companies Riot Platforms and Marathon Digital gaining 5.1% and 9.6%, respectively.
 

As market optimism continues and institutional involvement deepens, many investors see this moment as a potential inflection point—not just for Bitcoin, but for the future of digital assets as a whole.
 

— AccGn News Team