On Monday, bitcoin hit a two-and-a-half-week high, while ether set a new high, as cryptocurrencies surged higher on a wave of momentum, flows, positive news, and inflation fears.
Bitcoin was last up around 3% at $65,121, while ether, the cryptocurrency that powers the ethereum network, hit a new high of $4,711.
Investors have hailed the introduction of a U.S. futures-based bitcoin exchange-traded fund last month and sought exposure to an asset class that is frequently considered as an inflation hedge. Ether is up 57 percent since the beginning of October, while bitcoin is up roughly 50 percent.
