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Bitcoin back on the rise after vaulting to new record

Reuters · 1y

Bitcoin rallied again, reaching an intraday peak of $66,540 during Asian trading hours. This comes just a day after it set a new all-time high of $69,202. The surge in bitcoin's value has been fueled by increased investment in U.S. spot exchange-traded crypto products and expectations of lower global interest rates. The approval of 11 spot bitcoin ETFs by the U.S. SEC in January has also contributed to the positive sentiment, with institutional investors now showing interest in the cryptocurrency. However, the volatile nature of bitcoin is still a concern for some investors.