Bitcoin topped $72,000 for the first time, advancing for a sixth straight day and taking gains this year to almost 70% on the back of massive inflows into US exchange-traded funds.“It’s a full-on continuation of last week’s trend,” said Vetle Lunde, a senior analyst at K33 Research. “Traders are clearly in a risk-on mode.”
Digital assets scored more wins on Monday, as the London Stock Exchange confirmed it will accept applications for admitting Bitcoin and Ether exchange-traded notes and Thailand’s securities regulator said retail investors will be allowed to buy overseas crypto ETFs.
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Bitcoin Hits All-Time High Above $72,000 on Trading Accessibility and Dollar WeaknessBitcoin reached a new all-time high above $72,000 as it gained support from increased trading accessibility and a weaker dollar. The currency's surge follows last week's record-breaking run and the approval of crypto-related securities by the UK's Financial Conduct Authority. The US has already allowed exchange-traded funds (ETFs) tied to bitcoin's spot price, making it easier for mainstream investors to include the cryptocurrency in their portfolios. Analysts believe this indicates that cryptocurrencies are becoming more mainstream, not just bitcoin but also other established coins.
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