Bitcoin climbs to highest in almost three weeks

Bitcoin climbs to highest in almost three weeks
Bitcoin climbs to highest in almost three weeks Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Share this articleComments
Share this articleClose Button

LONDON - Bitcoin climbed on Tuesday to its highest in almost three weeks, adding to its gains since Russia's invasion of Ukraine, pulling up smaller digital coins such as ether.

Bitcoin climbed as much as 5.6% to $43,337, its highest since Mar. 3, and was last up 3.6%. Ether, the second largest digital coin, climbed as much as 5.4% to its highest since Feb. 17.

The original cryptocurrency has added more than 26% since its intra-day low of $34,324 on Feb. 24 when Russia invaded Ukraine. Its recovery has mirrored gains for stocks, albeit it to a stronger degree.

Analysts said there was no specific news catalysts for the gains, citing tentative appetite for riskier assets that buoyed European stock indexes on Tuesday.

Still, crypto investment products and funds showed net outflows for a second straight week, digital asset manager CoinShares said on Monday.

Share this articleComments

You might also like