This week, major cryptocurrencies like Bitcoin and BNB reached unprecedented heights, driven by global governmental instability that has increased the appeal of alternative assets. Bitcoin surged past US$126,000 on Monday, achieving a new record before slightly retreating to below US$124,000 on Tuesday. BNB, Binance’s native token, also set a new record at US$1,268. This crypto surge has significantly boosted the wealth of Binance founder Changpeng Zhao, although he disputed the reported figures as overly inflated. While Chinese social media saw a subdued reaction, many celebrated the milestone on other platforms, anticipating a robust crypto bull market. The rise in crypto values coincides with a shift by global investors towards assets other than major currencies, as the US dollar faces pressure during an ongoing government shutdown.
Are Bitcoin and BNB surging due to global turmoil?
