- Bitcoin has surged over 25% year-to-date, reaching record highs above $122,000, fueled by massive inflows from Wall Street, including $85 billion from new Bitcoin ETFs over the last year or so. The influx of traditional capital is also reducing Bitcoin’s volatility. The declining value of the U.S. dollar is helping too.
Across the world, since the lows of April, equity markets have risen robustly, delivering a historic bull rally. The broad market S&P 500 is up 6.58% year-to-date. But that looks feeble next to Bitcoin, which made new record highs yesterday, cresting over $122,000 per coin. Bitcoin is down over 2% this morning as speculators lock in their gains, but the cryptocurrency is still up over 25% year to date.
