Bitcoin Surges Past $42,000 Even as Stocks and Bonds Take a Hit
- Crypto rally has been driven by ETF hopes, rate-cut bets
- Bitcoin is on track for biggest annual gain since 2020
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The stock market had a rough Monday following several weeks of strength. It was a similar story in the bond market. And gold did a U-turn after climbing to a new record above $2,100 an ounce.
Yet in the digital-assets market, Bitcoin held firm following a weekend rally that took the oldest token above $42,000 for the first time in 19 months as frenzied speculation in cryptocurrencies extended its rally to more than 150% this year.