Bitcoin soared to a new record high Monday, topping $72,000 for the first time amid increasing institutional acceptance and continuing an impressive rally that has pulled the market back from the depths of a deep “crypto winter” that has hampered momentum for years following a series of major crashes and scandals in recent years. Bitcoin has rallied from around $42,000 at the start of the year, notching gains of around 70% and reaching—and then exceeding—prices last seen in 2021, when the market crashed following a series of high profile scandals and the collapse of major institutions.