Cryptocurrency Prices And News: SBF Sentenced To 25 Years; Bitcoin At $70,000

The Cryptopians, discusses the current cryptocurrency moment and where the market is moving next. To get Laura’s take on NFTs and the metaverse, watch part 2 of the interview.

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Cryptocurrency News: Cryptocurrency prices and spot bitcoin ETFs ticked higher early Friday as bitcoin traded around $70,000. Elsewhere on Thursday, Sam Bankman-Fried was sentenced to 25 years in prison for his role in the 2022 collapse of crypto exchange FTX.

The strong of new highs is rooted in the industry’s historic step forward on Jan. 11. That was the first trading day after the SEC approved 11 bitcoin ETF applications, which included issuers ARK Invest (ARKK), BlackRock (BLK), Grayscale, VanEck and more. Coinbase serves as the custodian for a majority of the new ETF issuers. How are crypto custodians keeping digital assets secure?

Other trends are also set to drive bitcoin in 2024, including the upcoming halving event in April and influx of institutional participation.

The Best Bitcoin, Cryptocurrency ETFs To Watch And Buy

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Cryptocurrency Price Action

Bitcoin traded around $69,900 early Friday. On March 14 bitcoin hit a new all-time high of $73,798. The cryptocurrency just above its prior peak of $68,990 set in November 2021.

Bitcoin had spiked to $49,000 January 11 on the ETF launch day but then fell back into its early December 2023 level prior to the SEC announcement. The world’s largest cryptocurrency rebounded about 157% in 2023. Bitcoin is now up about 66% so far this year, with most of the gains compounded in February and March.

Ethereum hovered around $3,540 Friday but is still a good distance from its March 12, 52-week high of $4,092. The cryptocurrency is holding up against December 2021 levels, and still well below its November 2021 peak above $4,800.

Ethereum on March 8 crossed its $4,000 level for the first time in 26 months. The No. 2 crypto has soared 55% in 2024.

Cryptocurrency Prices Heatmap:

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Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.

Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.

View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.

Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.