Both gold and bitcoin kicked off the week by hitting new milestones — spot gold hit a record high above $2,100 per ounce, and bitcoin topped $42,000 to hit its highest level since April 2022.
The digital currency appears to have broken through key technical levels and could continue to rally through the end of the year, according to Joel Kruger, market strategist at LMAX Group.
"A Bitcoin ETF allows easy access to Bitcoin via broker accounts, RIAs and wealth/private banking channels.
Think of Bitcoin ETF as the largest pipe ever built between traditional financial markets and crypto financial markets," the note said.
XAU= 5D mountain Gold retreated from the record high reached on Sunday evening in New York.
Persons:
bitcoin, Joel Kruger, Kruger, Bernstein, Gautam Chhugani, Chhugani, Bitcoin, Maximilian Layton, Layton, Gold, Craig Erlam
Organizations:
LMAX, CNBC, Securities, Exchange Commission, SEC, BlackRock, ETF
Locations:
Bitcoin, U.S, New York