Bitcoin has briefly reclaimed the $60,000 level at 4:38 p.m. UTC on the Bitstamp exchange before dipping back below it. The cryptocurrency's market capitalization is sitting well above $1.1 trillion.
As reported by U.Today, Bitcoin surpassed $60,000 for the first time on March 13 and then extended its gains to hit its current all-time high of $61,781. However, the flagship cryptocurrency took quite a beating at the beginning of the week, plunging to $53,185 on March 16.
The Federal Reserve's reluctance to hike interest rates coupled with Morgan Stanley allowing its clients to own Bitcoin made sure that the bulls are back in the driver's seat.