Bitcoin Breaks $8,000, Extends Two-Week Winning Streak

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Bitcoin climbed above $8,000, extending its longest winning streak since 2013 and giving fresh momentum to a cryptocurrency market that crashed only last year. Just hours after leaping 25% on Monday with no apparent explanation, the largest digital token added as much as 5.9% on Tuesday. That helped push the crypto universe’s total market value to almost $250 billion — a level not seen since last August — as the 10 most-traded tokens also advanced. Speculation over what’s behind the early-May surge runs from a possible squeeze on short positions to investor relief that recent hackings and scandals are getting resolved without disrupting the broader market. Crypto enthusiasts point to a long-standing claim — that their assets have become a haven during market turbulence. “There’s been no shortage of explanations for the recent spike, some more ludicrous than others and none that are nearly significant enough to match the size…

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