Bitcoin Price Tests $68,000 Level

On Tuesday, March 5, the price of the leading cryptocurrency rose above $68,000. On Binance, quotes reached $68,686.

At the time of writing, the price had corrected, with Bitcoin trading around $67,100.

Over the past 24 hours, the asset increased by 5.6% (CoinGecko).

The sharp price movement led to the liquidation of positions in the leading cryptocurrency amounting to $567 million (CoinGlass).

The update of the local maximum allowed the digital gold’s market capitalization to reach a record $1.347 trillion at its peak.

The total market capitalization of the entire cryptocurrency market is $2.64 trillion, with Bitcoin’s dominance index exceeding 50%.

Over the past week, the leading cryptocurrency has gained about 20%. Ethereum rose by 15% during the same period, with its price climbing above $3,700.

Among the top 10 coins by market capitalization, Dogecoin showed the most significant growth, exceeding 100%.

Earlier, IntoTheBlock identified five factors that could push Bitcoin’s price above $70,000 in the coming months.