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Bitcoin jumps above $60,000 for the first time since November 2021

Bitcoin continued its surge on Wednesday, shooting above $60,000 for the first time since November 2021.

The price of the flagship cryptocurrency was last higher by 6% at $60,391.10, according to Coin Metrics. Earlier, it rose as high as $60,734.42. It’s sitting just below its all-time high of $68,982.20.

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Bitcoin, 5 years

Investors are expecting it to set a new record after the launch of ETFs and with the network’s upcoming halving event, which historically has set the stage for a major rally in the months that follow.

Bitcoin has soared more than 18% this week alone, after a week-long pause of this year’s rally. It’s now up more than 40% for 2024.

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