Bitcoin retook the $57,000 level for the first time since late 2021, supported by investor demand through exchange-traded funds as well as further purchases by MicroStrategy Inc.
The digital asset added as much as 4.4% to reach $57,039 before paring some of the jump to trade at $56,085 as of 6 a.m. Tuesday in London. Bitcoin’s price has increased 32% since the turn of the year, extending a prolonged rally that has also stoked speculative appetite for smaller tokens like Ether and Dogecoin.