Bitcoin climbed above the $80,000 mark for the first time in more than three months on Monday, tracking a broader risk-on sentiment in global markets as Asian equities edged closer to record highs.
World’s largest cryptocurrency Bitcoin extended losses on Friday, falling over 6 per cent to about $66,198 as risk aversion, heavy liquidations, weakness in technology stocks, and fears of tighter US monetary policy rattled investors.
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The development comes as a broader risk rally around the US government shutdown buoyed the world’s largest cryptocurrency.
The recovery followed reports of US and Israeli airstrikes targeting Iranian nuclear facilities, which had initially triggered a broad sell-off across the cryptocurrency market.
Bitcoin led a major rally for cryptocurrency prices and related stocks on Tuesday as it bolted above $57,000 for the first time since November 2021, reports said.
Decentralised crypto exchange FixedFloat has confirmed a hack that resulted in the theft of Bitcoin and Ether worth at least $26 million.
Bitcoin rose as high as USD 50,328 on Monday in the US and was trading at USD 49,980 as of 7:40 am Tuesday in Singapore.
“Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto,” said Gary Gensler, the agency’s chairman.
In a significant development, the US securities regulator SEC approved the first US-listed exchange traded funds (ETFs) to track bitcoin
