Reuters

Crypto rally lifts ether to new record, bitcoin to near 3-week high

SYDNEY (Reuters) -Bitcoin rallied toward its all-time high on Monday and ether climbed to a fresh record as cryptocurrencies rode a wave of momentum, flows, favourable news and inflation fears. Bitcoin jumped more than 4% to as high as $66,170, approaching the unprecedented $67,016.50 level reached on Oct. 20, while ether – which underpins the ethereum network – sat at a record top of $4,768.07. Ether is up around 59% since the start of October and bitcoin about 51% as investors have cheered last month’s launch of a U.S. futures-based bitcoin exchange-traded fund and sought exposure to an asset class sometimes regarded as an inflation hedge.

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