Cryptoverse: Asian traders give bitcoin blast-off

FILE PHOTO: Representation of bitcoin cryptocurrency is seen in this illustration taken January 11, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

SEOUL/MUMBAI: Bitcoin's runaway rally is being driven by investors in Asia.

Traders in South Korea, China and other Asian countries are responsible for roughly 70% of bitcoin trading volumes, much like they were in 2021 when bitcoin last hit such heady highs, according to crypto exchange data from The Block.