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Crypto

BTC Skyrockets to New Heights Amid Favorable Risk Environment

Guavy AI Editorial Team
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BTC
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Bitcoin's price surged nearly 7% on Monday, reaching an intraday high of $87,397 and closing at $86,593.

This rally came as global stocks and bonds reported substantial gains, while lower oil prices and a planned summit between US President Donald Trump and Chinese President Xi Jinping lifted market sentiment.

According to Pratik Gupta, head of Business at Mudrex, the favorable risk environment has helped the rally, with short covering also playing a role.

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