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Bitcoin Extends Gains to Reach 2022 High of More Than $48,000

  • Rally in largest cryptocurrency has erased losses for the year
  • Terra’s Kwon confirms $135 million Bitcoin purchase Monday
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Bitcoin’s under-the-radar rally over the last few days has bulls once again eyeing levels the coin hasn’t seen since last year. 

The largest cryptocurrency by market value rose as much as 4.6% at one point Monday, reaching $48,215 before fluctuating around that level. The peak was its highest level of the year and the propulsion rounds out its year-to-date gains to around 4%. Elsewhere, the MVIS CryptoCompare Digital Assets 100 index -- which tracks tracks the performance of some of the largest digital assets -- was up more as much as 6.7%.