Bitcoin rallied nearly 9% to reach $71,928, its highest value in nearly a month.
It gave up some of its gains, trading up 5.62% daily to $71,343 at press time.
The leading cryptocurrency had weathered a rocky few days since Saturday, at one point dropping as low as $63,019 that day.
Bitcoin’s rise past $71,000 has attracted reactions within and outside the crypto industry.
Bitcoin woke up today and chose green.
Peter Schiff, longtime cryptocurrency critic, questions Bitcoin’s rise, calling it a “head fake.”
Bitcoin is trading above $71K.
Bitcoin, the largest cryptocurrency by market capitalization, climbed above $71,000 on Wednesday, rising more than 9% in 24 hours and leading broad gains across major cryptocurrencies.
The move put the price near $71,928 at its peak, the highest in roughly a month.
The recovery follows a volatile stretch since Saturday, when BTC touched a low around $63,019.
The breakthrough past $71,000 drew reactions from within and beyond the crypto space, with some observers praising the momentum while others urged caution; critics like Peter Schiff labeled the move a head fake.
If the rally sustains, further upside could emerge as investors reassess risk and liquidity conditions, though volatility remains a feature of the market.
Investors will monitor data and market sentiment for signs of sustained momentum.
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