BITCOIN RISES AFTER RAPID CLIMB TO NEW RECORD
Bitcoin experienced another rally on Wednesday amidst volatile trading, while ether also saw a significant jump, continuing the trend of crypto enthusiasm within the investment community. Bitcoin surged by as much as 6.8%, reaching a session high of $67,645. This followed a 6% drop on Tuesday from its previous record high above $69,000. Bitcoin was up 5.7% at $66,896.
Ether, the second-largest cryptocurrency by market capitalization, also experienced a notable surge, jumping by 9.8% to its highest level since January 2022. It was last up 8.6% at $3,827. The surge in Bitcoin's price comes amidst a year-to-date increase of 55%, driven by investors' increasing allocation of funds into U.S. spot exchange-traded crypto products and the anticipation of a potential decline in global interest rates.
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