Price move gives renewed hope that the digital token can achieve a kind of escape velocity against almost any economic backdrop.

Bitcoin price topped its all-time high and sailed past $111,000 overnight, fueled by favorable macro conditions, regulatory developments and institutional demand for digital assets.Bitcoin is up 3.6% over the last 24 hours to last trade at $111,

The crypto asset reached $111,886.41 at around 4am on Thursday morning, before levelling out at around $110,726.40 by mid-morning.