Cryptocurrencies
Bitcoin Rises to Two-Week High After Breaking Technical Barrier
- Digital asset advances as much as 8.3% to trade around $57,400
- We’re still in early innings of adoption cycle, says Gayeski
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Bitcoin surged to its highest levels since mid-April after surpassing a closely-watched technical hurdle.
The digital token climbed above its average price over the past 50 days, a measure of its short-term momentum. For chart watchers, that had been an important level -- such a move usually portends further gains. Many analysts will now look to see if it can sustainably stay above it.