Bitcoin (BTC) Pulls Back Following Unprecedented Surge to Over $69,000 Peak

Bitcoin is experiencing a resurgence, approaching its historical peak levels once again after a surge to a new record high on Tuesday was followed by significant sell-offs, leading to the most dramatic price fluctuations of the year for the cryptocurrency.

This premier and most established cryptocurrency advanced 5.8% to $67,002.84 as of 3:05 p.m. on Wednesday in New York, contributing to the boost of the broader digital currency market. The previous day saw Bitcoin reach an unprecedented high of $69,191.95, only to retreat sharply below $60,000. The fluctuation between Tuesday’s zenith and nadir exceeded 14%, marking the largest intra-day movement of 2021, as per the figures aggregated by Bloomberg.