Bitcoin's market cap has once again eclipsed the psychologically important $1 trillion mark after a sharp sell-off.
The cryptocurrency hit a two-week high of $54,400 6:04 a.m. UTC on the Bitstamp exchange.
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On Feb. 28, Bitcoin slipped to $43,000 after enduring its steepest crash since last March, but the bellwether coin went on to resume its rally in March.
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The cryptocurrency's momentum was bolstered by the Senate greenlighting President Joe Biden's highly contested $1.9 trillion stimulus package. It has also benefited from a string of bullish news, such as oil billionaire Kjell Inge Rokke setting up a new unit for purchasing Bitcoin.
Dan Burgin
U.Today Editorial Team
Vladislav Sopov