Bitcoin surges to $72,000 amid trading accessibility and dollar weakness
livemint.comBitcoin surged to an unprecedented high surpassing $72,000, propelled by increased trading accessibility and a weakened US dollar, on Monday.
The world's leading cryptocurrency received additional momentum as market participants anticipated an upcoming industry event known to historically bolster Bitcoin's value. This surge marked a continuation of last week's remarkable performance, during which Bitcoin surpassed its previous peak from November 2021, reaching $68,991.
Bitcoin's ascent was further fueled by the announcement from the UK's Financial Conduct Authority, mirroring US regulators' decision to permit the issuance of crypto-related securities. Earlier this year, US authorities approved exchange-traded funds (ETFs) linked to Bitcoin's spot price, facilitating easier access for mainstream investors to incorporate the digital asset into their portfolios.
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