Bitcoin Paints New Record High Above $35,000 on Dollar Setback

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Bitcoin logged more record highs in its first official trading week of the year, raising hopes that it would keep rallying higher after closing the previous year with a gain of 302 percent. The benchmark cryptocurrency opened Wednesday with a wild upside move. It reached a new historic high of $35,868 ahead of the London opening bell. The gains appeared as a part of a retracement rally that started when BTC/USD slumped from its previous record high of $34,810 to $27,678, suggesting incredible support for the pair despite overbought sentiments. Bitcoin corrects lower after hitting fresh highs above $35,000. Source: BTCUSD on The Dollar Sentiment In the last 24 hours, Bitcoin’s gains also surfaced as the US dollar slipped further lower into its 10-month long bearish trajectory. On Wednesday, the US dollar index reached 89.275, its lowest level since April 2018. According to Reuters, investors reduced their greenback bids…

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