Bitcoin surged over 6% today, breaking back above $65,000 and reaching over $67,000 amidst a global IT outage that disrupted various services worldwide. The outage, caused by a technical issue in a software update from cybersecurity firm CrowdStrike, impacted airlines, banks, media companies, and the London Stock Exchange.
Microsoft confirmed that the underlying cause of the outage had been fixed, but residual impact was still affecting some Office 365 apps and services. CrowdStrike CEO George Kurtz apologized for the technical problems and assured that a solution was being implemented. Both CrowdStrike and the UK’s National Cyber Security Centre confirmed that the issue was not a security incident or cyber attack.
The outage led to significant disruptions, with thousands of flights cancelled globally and difficulties in booking appointments at GPs and pharmacies in the UK. Some hospitals declared critical incidents, and the London Ambulance Service reported a surge in emergency calls.
Businesses were also affected, with long lines forming at airports and check-in counters. Microsoft advised affected users to try rebooting their systems multiple times to resolve the issue.
Meanwhile, Bitcoin has made a strong comeback in the past week, gaining over 16% according to CoinMarketCap. Analysts and experts are optimistic about Bitcoin’s price potential, with some predicting new all-time highs in the coming weeks or months.
At the time of press, Bitcoin was trading at $67,007 with a 24-hour trading volume of over $36 billion, gaining 5.35% in the last 24 hours. With the recent surge and positive market sentiment, Bitcoin could be on track to reach new all-time highs soon.
