Bitcoin price rises to $71k, anticipation of halving increases demand and scarcity narrative

From Investing.com: 2024-04-09 02:06:36

Bitcoin price climbed 2.5% to $71,133.3, below all-time high of $73,000. Traders await U.S. inflation data. Halving event anticipation boosts Bitcoin as block 840,000 nears. Event halves new Bitcoin mining rate, tightening supply. Price rise expected due to scarcity narrative.

Bitcoin’s rise spills over to ETH, XRP. Ethereum price up 7.6% to $3,688.20, XRP up 4.3% to $0.61785. Crypto investment products see $646M inflows last week, mostly into Bitcoin. Approval of spot Bitcoin ETFs drives gains. SEC investigation into Ethereum Foundation affects Ethereum sentiment.

Read more at Investing.com: hovers around $71k with focus on halving, CPI data By Investing.com