Bitcoin is up nearly 3% after briefly rising above $74,000 overnight, its highest level since early February.
“Everything else seems to live or die based on oil prices,” said Chris Beauchamp, chief market analyst at IG Group. “Bitcoin has been immune to that. It’s been finding its own little haven niche.”
The world’s largest cryptocurrency benefited last week from heavy purchasing by Michael Saylor’s Strategy and inflows into exchange-traded funds, Nomura-backed Laser Digital said in a research note.