Bitcoin Bursts Above $65,000, Record High Comes into View

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Bitcoin soared to a two-year high on Monday, surpassing $65,000 fueled by a surge of investment that brought it close to its all-time highs.

The cryptocurrency reached a session peak of $65,537 during European trading, following a previous high in Asian markets. At present, it is up 4% at $65,045. Bitcoin achieved a record high of $68,999.99 in November 2021. With a 50% increase in value this year, most of the gains occurred in recent weeks, coinciding with a substantial influx of funds into U.S.-listed bitcoin funds.

The approval of spot bitcoin exchange-traded funds (ETFs) in the United States earlier this year paved the way for significant new investments, reigniting enthusiasm and momentum similar to the buildup to the record levels seen in 2021.

Source: Reuters

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