Bitcoin surges to new record above $69,000

Bitcoin surged to a record as demand from new US exchange-traded funds and a looming reduction in the token’s supply growth fuel a breathtaking rebound in the original cryptocurrency.

The largest digital asset rose as much as 2.5 per cent to $69,191.95 on Tuesday. Bitcoin has climbed about 62 per cent so far this year, outperforming global stocks and spreading optimism across the digital-asset market.

In an ironic twist, Bitcoin owes much of its resurgence ...