Bitcoin has finally broken out of a window it has been trading within since the start of the year, rising to a three-month price high on Monday.
A 5 per cent overnight surge took BTC above $47,000 for the first time since early January, building on a price rally that has seen it rise more than $10,000 over the last two weeks.
The latest gains were mirrored among other leading cryptocurrencies, including Ethereum (ETH), Cardano (ADA) and Solana (SOL), pushing the overall crypto market above $2 trillion.
Analysts have attributed the positive movements to various bullish trends that have been forming throughout March, including a dwindling supply of bitcoin on crypto exchanges.
There have also been rumours that other countries may be making moves to follow El Salvador by adopting bitcoin as a legal form of tender.
You can follow all the latest news, analysis and expert price predictions in our live blog below.
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