Bitcoin has hit an all-time high of $68,900, marking a significant rebound from its low of $17,000 in November 2022. This surge is attributed to several factors. Firstly, Bitcoin’s value has been moving in line with larger macroeconomic trends, specifically as a speculative asset. With the Federal Reserve hinting at rate cuts and the American economy performing better than expected, investors are more willing to spend money on risky assets. Secondly, Bitcoin has gained regulatory victories against the U.S. Securities and Exchange Commission, further boosting its rise. However, after reaching its record high, Bitcoin dropped back down to $61,000.
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