Cryptocurrencies
Bitcoin Hits One-Month High, Revives Talk of Another Record Run
- Bitcoin surpassed $67,000 for the first time in over a month
- Analyst says Trump presidency will bring bull market cycle
Crypto is rallying even as stocks are falling, eroding the sector’s recent correlation with other so-called risk assets.
Photographer: Armend Nimani/AFP/Getty ImagesThis article is for subscribers only.
Bitcoin surpassed $67,000 for the first time in more than a month, reviving speculation that the largest cryptocurrency may soon make another run at record highs amid optimism that a second Trump presidency will be beneficial for digital assets.
The surge of almost 6% to $67,434 on Friday by the crypto market’s bellwether helped to lift the fortunes of smaller tokens such as Solana, Dogecoin and Avalanche, which were all up more than 3%. Bitcoin reached an all-time high of almost $74,000 in March amid optimism over demand for US exchange-traded funds that had been allowed to hold the token directly for the first time.