Bitcoin Breaks Six-Week High, Reaches New Record of $89,000 Amidst Market Shifts

Bitcoin has experienced a significant surge this week, breaking the six-week high at $88,900 during Tuesday morning trading in Asia. This marks a milestone since March 7th, according to CoinGecko, and reflects a notable rise of 18% since reaching a low of $75,000 earlier this month. Analysts attribute this upward trend to the expansion of DeFi applications and increasing interest from institutional investors. The market’s performance aligns with the surge in gold prices, which also hit an all-time high just below $3,500 per ounce this week.