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© Reuters. The Bitcoin rally continues: the price climbs above $60,000 for the first time since November 2021
Bitcoin price rose above $60,000 during the US session on Wednesday, the first time it has risen above this level since November 2021.
This week saw a strong rally in the cryptocurrency driven by strong inflows into US-based ETFs, noted by various analysts.
As of 10:34 a.m. ET, Bitcoin is up more than 7% to $61,170. So far this week, the leading cryptocurrency is up 17%, adding to its rise of more than 44% so far in 2024.
In the last 12 months, BTC is up 160%. Ahead of the halving expected in April, traders flocked to the cryptocurrency. However, the rally wasn’t just limited to BTC: analysts noted this week that their portfolio of digital assets outperformed for the first time.
“We believe this is a fairly significant signal for understanding that the crypto bull market is becoming broader,” Bernstein wrote in a research note.
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