Bitcoin rises above $21,000 as weak dollar leads to risky asset purchases

Bitcoin prices have risen back above the psychologically significant $20,000 mark this afternoon as the dollar’s depreciation has increased buying of risky assets, including cryptocurrencies.

Bitcoin price increased by $1,951.57 or +10.16% to $21,112.93.

The dollar index fell this afternoon, which favored the purchase of risky assets. The Bloomberg Dollar Spot Index fell 0.7% in Asian markets after reaching a record high this week.

In addition, today’s rally in Asian stock markets supported the bitcoin price. The Hang Seng Index in Hong Kong rose by 2.5% in the morning, while the Nikkei closed with a gain of more than 100 points.

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