Bitcoin has recently surpassed $110,000, which is a significant rally with a 3% increase in a single day.
The cryptocurrency reached an all-time high of $110,788.98 on Coinbase late on May 21 at around 23:30 UTC.
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Over the past 24 hours, Bitcoin is up around 3%, surpassing its previous high of $109,458 reached earlier in the day.
The world's largest cryptocurrency has gained nearly 18% this year and is up 47% since its plunge to $75,000 on April 7, following the impact of tariffs recently imposed by US President Donald Trump.
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The latest Bitcoin spike coincides with turbulence in US stock markets, spurred by a weak 20-year bond auction on May 21, which sent Treasury yields sharply higher.