Bitcoin (BTC-USD) is approaching record high territory as it re-enters the $73,000 territory Tuesday afternoon. Yahoo Finance markets and data editor Jared Blikre monitors year-to-date trends in the crypto space as bitcoin runs higher, taking note of the rally in meme coin dogecoin (DOGE-USD) that coincides with dogecoin bull Elon Musk's support of former President Donald Trump.

Crypto stocks — including MicroStrategy (MSTR), Coinbase Global (COIN), and Riot Platforms (RIOT) — were rallying earlier today as bitcoin hovered just below $72,000 in the morning session.

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This post was written by Luke Carberry Mogan.