Bitcoin hits record high as US-China trade tensions ease, crypto sentiment improves
Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month’s tariff-induced sell-off.
The world’s largest cryptocurrency touched a high of US$109,760.08, and was last up 1.1 per cent at US$108,117.
“Now that January’s high has been surpassed – and the 50 per cent upside from April’s lows has been achieved – bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favourable US regulatory environment,” Antoni Trenchev, co-founder of digital asset trading platform Nexo, said in an emailed comment.
