The 4.8% advance over 24 hours took the largest cryptocurrency by market value to the highest level since November 2021 and left it about 14% below its record high of around $69,000. The broader crypto market also advanced, with the CD20 adding 3.5%.

Coinbase (COIN), the only U.S. traded crypto exchange, added 3.9% after touching a 52-week high of $209.94 on Tuesday. MicroStrategy (MSTR), the largest corporate holder of bitcoin, rose 7.5%. The software developer said Monday it bought another 3,000 BTC, taking its total stash to 193,000. BlackRock’s bitcoin exchange-traded fund (IBIT), added around 3.9%, the most among the spot bitcoin ETFs approved last month.

Gains among miners were led by Marathon Digital (MARA) and Mawson Infrastructure (MIGI), which both added 6.1%. HUT 8 (HUT), which yesterday said it will start selling its bitcoin stash to finance corporate growth, advanced 3%.

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Sheldon Reback

Sheldon Reback is CoinDesk's European news editor. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He subsequently managed the Bloomberg Terminal's main news page before becoming the European editor for a global project to produce short, chart-based stories across the newsroom. His previous work as a journalist took him to Hong Kong, where he reported and edited for several technology magazines, and he also has experience in market research and writing computer manuals. Sheldon has an MBA from the London Business School and an industrial chemistry degree from Brunel University. He owns a small amount of ether.