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Bitcoin Surges Past $12,000 With Advocates Heralding New Era

  • 14-day Relative Strength Index at 69 boarders on overbought
  • Token has advanced roughly 70% since the start of the year

Bitcoin rallied on Monday, advancing past $12,000 to its highest level in a more than a year amid a wider risk-on rally in equity markets.

The world’s largest cryptocurrency rose as much as 5.3% to around $12,473 in New York, the highest since July 2019. Crypto peers including Bitcoin Cash, Litecoin and Monero also gained, with the Bloomberg Galaxy Crypto Index rising to its highest since June 2019.