Bitcoin resets record, tops $US66,000

Bitcoin rallied to a record, topping $US66,000 ($88,400) for the first time as optimism surged for greater mainstream acceptance in the wake of the successful launch of the inaugural exchange-traded fund for US investors.

While the historically volatile digital currency spent recent days hovering in a narrow range as it approached its previous April high, the vault past the threshold happened much faster: The price added more than a $US1000 in a minute just after the open of stock exchanges in the US.

Big moves tied to significant chart levels have been a common phenomenon in the little more than a decade history of cryptocurrency trading.

“It’s a validating moment,” said Jesse Proudman, co-founder and chief executive at Makara, a crypto advisory firm. “It’s no longer a question of does this asset class continue to exist – I think that’s a really meaningful mark in the history of the broader digital-asset class.”

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