Bitcoin jumps 3%, hits over two-week high on relief over US debt ceiling

Bitcoin surged to a more than two-week high, rising by up to 3.2% on Monday and trading at around $28,182, thanks to investors boosted by a decision to raise the US debt limit. This is the fifth day in a row that the digital currency has recorded gains, thanks to a resolution of the US debt-ceiling impasse which helped global risk appetite. However, the agreement must still be passed quickly by Congress to avoid a US default, in addition to other potential headwinds such as a recent surge in Treasury yields and US monetary tightening.