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Bitcoin Jumps Above $11,000

  • Advance reaches 14%, a one-day gain not seen since end of June
  • Largest digital token slumped in July amid Facebook scrutiny
SberBit Cryptocurrency Mining Hotel As Bitcoin Futures Start With A Bang
Photographer: Andrey Rudakov/Bloomberg
Updated on

Bitcoin climbed above the $11,000 level for the first time since mid-July and led gains among the biggest cryptocurrencies, as risk assets across Asia, Europe and North America tumbled on escalating trade-war tensions.

The largest cryptocurrency surged as much as 14% from Friday’s close and traded at $11,809 at 10:35 a.m. in New York, according to consolidated Bloomberg pricing. The Bloomberg Galaxy Crypto Index tracking a basket of cryptocurrencies jumped 8.6%, as rival digital coins including Ether and Litecoin also rallied.