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$5,000: Bitcoin Price Hits Historic New Milestone
Bitcoin markets rose above $5,000 for the first time after a week of rising prices.
By Stan Higgins
Updated Sep 14, 2021, 1:56 p.m. Published Sep 2, 2017, 4:05 a.m.
Bitcoin's price rose above $5,000 for the first time today.
The CoinDesk Bitcoin Price Index (BPI) hit a high of $5,013.91 at 02:25 UTC, market data shows, staying above that level over the next 10 minutes of trading. The price then dipped below the $5,000 mark, falling over the next hour to a low of $4,867.18 at 03:28 UTC.
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Market data points to Chinese bitcoin exchange OKCoin leading the spike, with that market hitting a high of $5,149.
Markets then climbed back above $4,900, reaching $4,916.39, BPI data shows, before sliding again. As of press time, bitcoin's price is trading at $4,877.36, according to the BPI.
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A week ago, markets were at ranging between $4,340 and $4,370, and on Tuesday the weekly low was recorded at $4,221.44. Yet in the past few days, markets saw significant surges, shooting past the $4,700 and $4,800 levels to hit new all-time highs.
Image via Shutterstock
This piece has been updated.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
Що варто знати:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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