• The historic hike caused a 3.87% spike in Open Interest (OI)
• BTC’s demand was approximately five times greater than supply at press time

The world’s largest cryptocurrency, Bitcoin [BTC] shattered the $70K-level in style, days after bettering its previous all-time high (ATH). In fact, at the time of writing, it had climbed to a new ATH, with BTC trading at $70,973.

Bitcoin hit its latest ATH on the back of a 2% hike over 24 hours and an appreciation of 12% over a 7-day period.