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Bitcoin Hits 3-Week High While Breaking Out of Trading Range

  • Largest cryptocurrency tracks rally in U.S. equity indexes
  • Speculation rises that Terra is buying Bitcoin as a reserve
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Bitcoin Rises to 3-Week High
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Bitcoin climbed to more than $44,000 for the first time in almost a month, breaking out of its recent narrow trading range amid a renewal of risk appetite. 

While the increase closely mirrored gains among U.S. equity indexes, the largest cryptocurrency by market value was also bolstered by speculation that Russia is mulling accepting it for payments and that the operator of the Terra blockchain is buying the digital token as a reserve.