Bitcoin Hits New High Above $51K, Shrugging Off Rising Bond Yields
Rising bond yields are a threat to prices of hedge assets, but bitcoin is soaring as gold falls.
The largest cryptocurrency has failed to hold above $50,000 amid a downdraft in traditional markets.
"The economic recovery remains uneven and far from complete, and the path ahead is highly uncertain," the Fed chairman said.
Federal Reserve chairman Jerome Powell is expected to address rising bond yields later on Thursday.
After a lot of drama, bitcoin’s back to trading where it was a few days ago.
Bitcoin and ether continue to rise, but that could create problems for overheated derivatives markets.