After climbing back over $31,000 for the second time in a week, Bitcoin continued its rally on 4 July. The largest digital asset by market cap was trading for $31,061.15, a 1.3 percent jump in 24 hours, according to Coinmarket.
The asset has gained over 2 percent in the past seven days and 17 percent in the past 14 days.
Several institutional investors renewed their interest in Bitcoin two weeks ago, which led to it surge above $31,000 for the first time in over a year. Among the triggers were BlackRock's high-profile Bitcoin spot exchange-traded fund (ETF) application and the launch of EDX Markets, a new crypto exchange.
Since June 30, bitcoin has held firmly above $30,000 per coin aside for a brief dip below that mark. However, the price is now comfortably above $31,000 once again.
CoinShares reported on July 3 that institutional investors continue to invest in digital asset products, with USD 125 million worth of inflows over the past week. The majority of that money is focused on Bitcoin, the report said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
