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

Bitcoin and other cryptocurrencies kept their momentum after a two-day stint during which the world's largest crypto hit fresh highs.

The price of bitcoin rose to a fresh peak near $112,000, extending a recent rally. The digital token rose as high as $111,875 in overnight trading, according to the CoinDesk Bitcoin Price Index. It had set new records for both end-of-day and intraday levels on Wednesday.