Bitcoin has broken through the $70,000 level, continuing its strong upward momentum.

As of 5:13 p.m. on the 20th, according to CoinMarketCap, Bitcoin was trading at $70,995.95, up 10.54% over the past 24 hours.

Started in the $60,000 Range... Crossed the $70,000 Mark in the Afternoon

Bitcoin had earlier remained in the $60,000 range before rapidly accelerating its gains recently. Today, it battled around the $70,000 level before crossing that threshold in the afternoon.

Treasury Market and Investor Sentiment Are Key Variables

In the recent virtual asset market, movements in the U.S. Treasury market and changes in risk-asset investment sentiment are cited as major variables. After the U.S. Treasury Department announced an expansion of long-term Treasury buybacks, long-term yields declined, drawing attention to the future direction of risk assets including Bitcoin.

Given the sharp price increase over a short period, whether Bitcoin can stably hold the $70,000 level is a key point to watch. The future direction of altcoins such as Ethereum, Ripple (XRP), Solana, and Dogecoin is also drawing keen attention.

[Virtual assets are investment assets with high price volatility and can experience sharp fluctuations in short periods. Investors need to comprehensively review market conditions and related indicators and carefully decide whether to invest.]