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Bitcoin (BTC-USD) briefly climbed to a new record high nearing $110,000 on Wednesday, the cryptocurrency currently holding onto morning gains and hovering just below $109,000.
Yahoo Finance senior industry reporter Ines Ferré breaks down the crypto asset's latest price moves.
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Bitcoin rising this morning briefly hitting an all-time high above $109,000 earlier, but moving slightly off of that high right now, just barely. Yahoo Finance senior markets reporter, Ines Ferre breaks it down for us. We don't want to throw cold water on it so quick, Ines.
Oh no, because we are right up against that $110,000 threshold. Take a look at Bitcoin right now. It's trading just below 109, uh, but look, it was trading just above 109,000. Around 400 that it got to that all-time record high. And look, year to date it's up 15% and from its April lows when it was around 76,000, just below 80,000, it's up more than 40%. So it has really rallied over the last several weeks and part of this has to do with a more optimistic regulatory framework because you've got that stable coin bill, um, that's in the Senate. You've got more institutional buying and also you have what one analyst has been saying that has been this investor shift to buy the dips. So investors have been buying the dips along of the way sending it to an all-time record high.
