Bitcoin’s price surged by 3% to over $71,700, reaching an all-time high of $72,387.

The surge in cryptocurrencies has been aided by the stock market’s relief and improved risk sentiment.

The emergence of new cryptocurrency funds, such as BlackRock’s iShares Bitcoin ETF, has sparked a new wave of investor interest in digital assets.

Bitcoin has increased by about two-thirds since the beginning of the year, with spot ETFs holding Bitcoin directly affecting prices.

Ether, the second-largest cryptocurrency, also saw a 3% increase to surpass $4,000, marking the first time it has crossed that milestone since late 2021.