On March 4, 2024, Bitcoin (BTC) surged above $65,300, inching closer to its all-time high (ATH). At the time of reporting, BTC experienced a slight dip, currently trading at $65,1050 with only a 6% difference from its ATH, according to CoinMarketCap. Trading volumes soared to $40 billion, marking an 80% increase.
The fear and greed index, as reported by Coinstats, reached 82 points, indicating “extreme greed” sentiment prevalent in the market, albeit decreasing by one unit over the past 24 hours.
Ethereum (ETH), the second-largest cryptocurrency, also witnessed significant growth, surpassing the $3,500 mark and testing multi-year highs at $3,520, last seen in January 2022.
Among the top 10 cryptocurrencies by market capitalization, Cardano (ADA) and Dogecoin (DOGE) exhibited noteworthy growth rates of 8% and 24%, respectively. Concurrently, the stablecoin USDT’s market capitalization surged to $100 billion, reflecting a 9% increase since the beginning of the year.
Crypto analyst PlanB, renowned for accurate predictions using the stock-to-flow (S2F) model, previously forecasted Bitcoin’s surge to over $100,000 during the 2023-2024 bull run. With successful predictions in August, September, and October, PlanB suggests Bitcoin could potentially reach $1 million post-2024.