CryptoWatch: Bitcoin Retakes $10,000, Marking Highest Level In About 2 Weeks

After a sluggish start to the trading day, cryptocurrencies moved higher Thursday, with the No. 1 digital currency pushing back above $10,000.

Bitcoin BTCUSD, -0.87%  hit an intraday high of $10,218.01, representing a 5.6% increase on the day, and dragging all major digital currencies with it. It is the first time bitcoin has traded above $10,000 since Feb. 1, and it has now risen 68% since trading below $6,000 on Feb. 6.

Ether was up 1.3% at $935.73, while bitcoin cash was higher by 1.6% at $1,383.90. After Wednesday’s surge, Litecoin added to its gains, rising 4.8% to $223.56, and Ripple was up 1.4% to $1.16, according to research and news site CoinDesk.

Read: Billionaire Charlie Munger says ‘bitcoin is noxious poison’

Bitcoin traders were eyeing the psychologically important $10,000 level, with February traditionally representing a bullish month for the cyber unit, rising by at least 15% in 2015, 2016 and, so far, 2018.

With Thursday’s rally, the broader digital-currency market cap stood at $476 billion, following a strong week for the group.

In the bitcoin futures market, the March contract on Cboe Global Markets XBTH8, -2.33%  rose $825, or 8.9%, to settle at $10,095, while the February CME Group Inc. BTCG8, -2.82% finished $800, or 8.6% higher, at $10,090.

CryptoWatch: Check bitcoin and other cryptocurrency prices, performance and market capitalization—all on one dashboard

RECENT NEWS

Gyrostat Capital Management: The Missing Allocation In Retirement Portfolio Construction?

For decades, retirement portfolios have largely been constructed using combinations of growth assets a... Read more

When The Gate Comes Down

A Stress Test Rather Than a ScandalApollo Debt Solutions is not a blow-up story. It is something arguably more instructi... Read more

What If The Investment Industry Is Benchmarking The Wrong Things?

  Investment management is built around benchmarking.  Fund managers compare themselves a... Read more

SpaceX Is Looks To Make History

The Biggest Bet in Wall Street History: SpaceX's $1.78 Trillion IPOThere are moments in financial history that stop you ... Read more

Gyrostat June Market Outlook: When Low Volatility Conceals Structural Risk

This monthly Gyrostat Risk-Managed Market Outlook does not attempt to forecast market direc... Read more

Why Low Volatility Is Not The Same As Low Risk

Why Low Volatility is Not The Same As Low Risk Some of the worst-performing portfolios in... Read more