Cryptocurrencies

Bitcoin Hits Highest Level in Two Weeks as Big-Money Bets Flow

Evercore technical analysis suggests prices could hit $75,000
Bitcoin adoption among institutions is helping fuel a rally

Novogratz Says Bitcoin Will Hit $100k By End of Year

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By Olivia Raimonde and Joanna Ossinger

March 9, 2021 at 3:22 AM UTC

Updated on

March 9, 2021 at 6:03 PM UTC

This article is for subscribers only.

Bitcoin rallied to a two-week high as a risk-on sentiment returned following selloffs in more speculative corners of the financial market.

The digital asset rose as much as 5.7% before trimming some gains to trade at $53,747 as of 1:02 p.m. in New York. Ether -- the world’s second largest cryptocurrency -- jumped as much as 3.8%. The gains mirror broader risk-on optimism, with the Nasdaq 100 Index recovering from a decline Monday that pushed the tech index to a so-called correction level.