Bitcoin traded as high as $69,200 on Tuesday, briefly setting a new all-time record for the world’s largest cryptocurrency before falling back.
The price has surged since US regulators in January approved spot bitcoin exchange traded funds issued by Wall Street stalwarts including Fidelity and BlackRock, the world’s largest asset manager.
The new wave of capital has resulted in gains of more than 60 per cent since the start of the year and has helped push the flagship crypto token into uncharted territory, passing the record set in November 2021. Within hours of touching the milestone, however, bitcoin had fallen more than 8 per cent to about $62,000.
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