Bitcoin climbs above $70,000 level again after 10 days

Bitcoin on Tuesday rose above the $70,000 level once again after 10 days of declines.


The price of Bitcoin was trading just above that level at 1426GMT for a daily gain of 1%, according to data from CoinMarketCap, a digital asset price-tracking website.

The psychological price level of $70,000 level was last seen on March 10.


The world's biggest cryptocurrency saw its price diving to $61,689 last Wednesday, erasing all its gains during the month of March.

The sudden selloff in the cryptocurrency market was viewed as a correction by most analysts after Bitcoin saw its price climbing to a record-high of $73,666 on March 14.

Ethereum, the world's biggest altcoin by market cap, rose 0.5% to $3,565 at 1428GMT. Some altcoins saw their daily prices gain more than 10%.

The value of the cryptocurrency market was up 3.2% to $2.66 trillion while Bitcoin's share of the crypto market, known as dominance, was at 52% and Ethereum's dominance was at 16.3%.

Bitcoin has been on a rally since Jan. 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs or exchange-traded funds. The move allowed investors, especially financial institutions, to trade Bitcoin without owning it.