MARKET NEWS
Bitcoin rises to new record high, eclipses January top - REUTERS
LONDON, May 21 (Reuters) - The price of 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 $109,481.83, a 2% gain on the day.
Bitcoin, at times, trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The tech-heavy Nasdaq (.IXIC) is up 30% from its early April low.
