Cryptocurrency Surges as Investors Seek Higher Returns
Bitcoin Surges Amid Rally in Risk-On Assets
Bitcoin prices have surged to a two-month high, as a rally in risk-on assets continues to gather pace.
The cryptocurrency, which has been trading in a narrow range for much of the year, jumped over 5% to $11,400 on Monday, according to data from CoinDesk. The move comes as investors pile into riskier assets, such as stocks and commodities, amid signs of a global economic recovery.
The rally in risk-on assets has been driven by a combination of factors, including the rollout of COVID-19 vaccines, signs of a rebound in global manufacturing, and the Federal Reserve's commitment to keeping interest rates low.
In the past week, the S&P 500 has risen by over 3%, while the Dow Jones Industrial Average has gained over 4%. Gold prices have also surged, rising by over 2% to a record high.
The surge in risk-on assets has also seen investors piling into other assets, such as oil and copper. The price of West Texas Intermediate crude oil has risen by over 10% in the past week, while copper prices have jumped by over 5%.
The rally in risk-on assets has been fueled by a combination of factors, including the rollout of COVID-19 vaccines, signs of a rebound in global manufacturing, and the Federal Reserve's commitment to keeping interest rates low.
The surge in risk-on assets has also seen investors piling into other assets, such as oil and copper. The price of West Texas Intermediate crude oil has risen by over 10% in the past week, while copper prices have jumped by over 5%.
The rally in risk-on assets has been fueled by a combination of factors, including the rollout of COVID-19 vaccines, signs of a rebound in global manufacturing, and the Federal Reserve's commitment to keeping interest rates low.
The surge in risk-on assets has also seen investors piling into other assets, such as oil and copper. The price of West Texas Intermediate crude oil has risen by over 10% in the past week, while copper prices have jumped by over 5%.