Bitcoin climbed to a three-week high on Tuesday, dragging up other cryptocurrencies such as Ethereum.
The world’s most popular cryptocurrency gained up to 5.6% to $ 43,337, the highest level since March 3. Ethereum is moving at a similar pace, strengthening by 5.4% to its highest level since February 17.
Bitcoin has added more than 26% from its intra-conference low to $ 34,324 on February 24, the day Russia began its invasion of Ukraine. Its recovery reflects stock gains, albeit to a greater extent.
Analysts say there is no specific news catalysts for the rise of cryptocurrencies. Cryptocurrency investment products and funds are showing net outflows for the second week in a row, digital asset manager CoinShares said on Monday.
Source: Capital
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