Bitcoin Soars Towards $12k as Yuan Hits Decade Low

Bitcoin rose above the $11,800 level on Monday as People’s Bank of China (PBoC) pushed the Chinese Yuan to its decade low.
At around 0740 UTC, the BTC/USD instrument established a local high of $11,860, up 6.67 percent in the past 24 hours. The move upward brought the pair’s 7-day gains to 23.93 percent. The price rally stalled ahead of the European market open, with price correcting by as much as 1.35 percent.
Bitcoin Price Up 6.76% in Last 24 Hours | Image Credits: TradingView.com,