Bitcoin heads for third straight weekly gain as markets turn volatile

Bitcoin is on track for a third consecutive weekly gain as investors look for alternatives amid swings in stocks, currencies, and government bonds. The token rose 4.6% week to date and reached an overnight high of $82,272.31, its strongest level since May 11. The cryptocurrency had spent much of the year trading between about $60,000 and $70,000, but it moved above $70,000 in late August and has continued to climb since then. Analysts said the rally has been supported by renewed interest in the socalled debasement trade, where some investors shift away from the U.S. dollar and into assets such as bitcoin and gold. Other major cryptocurrencies also advanced. Ether touched $2,545.62, its highest since August 27, while Solana climbed to about $105.70, its strongest level since August 31.