Bitcoin (BTC) Price Today - August 14; BTC Surges Above $60,000 Mark, ETH Crosses $2,700

Bitcoin (BTC) price rose above the $60,000 mark on Wednesday, while most other major cryptocurrencies were also trading higher. The global crypto market cap increased 2.29 percent over the past 24 hours to stand at $2.14 trillion.

At 14:37 IST, BTC price was up 2.99 percent over the past 24 hours to trade at $60,869.24, as per CoinMarketCap. According to Indian exchanges, BTC price was at Rs 49.07 lakh.

Bitcoin price has risen around 8 percent over the past seven days, and was trading above the key $60,000 level (roughly Rs 48.8 lakh) for the first time since August 9. Earlier this month, BTC price had fallen below the $58,000 (roughly Rs 47.1 lakh) mark on August 7.

However, BTC price recovered and rose past the $59,000 (roughly Rs 48.1 lakh) mark on August 11. Later that day, Bitcoin price crossed the $59,500 (roughly Rs 48.4 lakh) level as well.

On Tuesday, BTC price rose past the $60,000 (roughly Rs 48.8 lakh) mark once again. Later, Bitcoin price crossed the $61,000 (roughly Rs 49.6 lakh) level as well.

Both Bitcoin and Ethereum posted gains on Tuesday as investors awaited key U.S. economic data that could influence Federal Reserve policy.

At 14:37 IST, Bitcoin was up 3 percent in the last 24 hours to trade near $61,000, while Ethereum, the second largest cryptocurrency by market cap, was up 2.5%.

Key economic reports this week include the U.S. Producer Price Index (PPI) for July, released later on Tuesday, and the U.S. Consumer Price Index (CPI) for July, expected on Wednesday.

CPI is expected to show a month-on-month inflation increase of 0.2%.

Both cryptocurrencies have rallied over the past month as major economies continue to post strong economic data despite high inflation.

Institutions have also shown interest in cryptocurrencies for the long term, with BlackRock recently launching a private trust for Bitcoin.

However, both cryptocurrencies are down over 60 percent from their all-time highs reached in November last year.

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