The news: Bitcoin rose to a fresh record high in intra-day trading overnight as risk sentiment continues to improve after last month’s selloff.

The numbers: The world’s largest cryptocurrency touched an all-time high of US$109,760.08 ($170,614) before easing and is currently trading 1.7% higher at US$108,538.60. 

The context: The gains since last month’s tariff-induced decline have been driven by easing trade tensions between the US and China, as well as improved demand from investors looking for alternatives to the US dollar amid Moody’s downgrade of US sovereign debt. It has coincided with continued weakness in the US currency, boosting the cryptocurrency’s exchange rate. Earlier this week, JPMorgan CEO Jamie Dimon said the bank will let clients buy bitcoin.