In a market rally, the price of bitcoin (BTC) continues to rise and has added another 2%. At the time of this writing, the price of bitcoin was $64,472. At the same time, the market capitalization of bitcoin reached $1.2 trln, thus the first cryptocurrency overtakes the pound sterling. As a result, bitcoin has become the sixth largest currency in the world.
This year, there has been a phenomenal jump in prices for bitcoin and the entire crypto market. Just a few days ago, bitcoin overtook the Australian dollar (AUD) as it climbed to record highs. With consolidation around the $59,000 mark for a long time, bitcoin made a strong breakthrough. Over the past week, the price of BTC is up 14.94%, pushing it to record levels.
The rise in BTC prices is taking place against the backdrop of an increase in the number of whales and some other on-chain data. Bitcoin's technical chart has also formed a bullish pattern. Bitcoin's $70,000 target is expected to be met in the near future.