Sam Bankman-Fried

Bitcoin hit a record high above $69,000 Tuesday, buoyed by the world's biggest cryptocurrency becoming more accessible for trading amid tightening supplies.

Bitcoin reached $69,191.94, beating a record $68,991 struck in November 2021.

The volatile asset later retreated to $65,129.

Bitcoin spiked above $50,000 yesterday for the first time in more than two years as investors grow optimistic that U.S. approval of broader trading in the unit will ramp up demand.

A federal prosecutor in New York has decided against pursuing a second trial, this one over corruption and illegal political donations, against former crypto mogul Sam Bankman-Fried.

Cryptocurrency backers have celebrated the fraud conviction of the industry's one-time golden boy Sam Bankman-Fried, hoping the embattled sector can finally turn the page on a multibillion dollar scandal.