Bitcoin has hit a new all-time high, topping $111,000 for the first time at midnight UK time.
The largest cryptocurrency ascended 2.6% over the past 24 hours and surged over 8% in the past week and 26% for the month.
Other digital coins are up, but are not that close to their highs.
Bitcoin is fast approaching $112,000, with analysts at Deutsche Bank noting that the gains are likely to be boosted by hopes increasing that the US Stablecoin Bill will soon pass after the advancement of legislation through Congress yesterday.
"The US debt instability has probably helped too."
Analyst Kyle Rodda at Capital.com said the divergence between bitcoin and other risk assets, especially US tech, "suggests there's deeper drivers at play too".
"There are tentative signs that as global bond markets face strain beneath the weight of higher inflation risks and greater issuance, along with the mini confidence crisis in US assets, bitcoin is behaving as a genuine fiat hedge and alternative store of value."