Crypto news

“Bitcoin” registers the highest level in 9 months… and the gains for the week exceed 35%

The price of the “Bitcoin” currency jumped today Saturday to its highest level since June 11, 2022 (9 months), amid investor concern over the escalation of the banking crisis in the United States.

The largest cryptocurrency was up 4.89% to $27,452,000 over the past 24 hours, while posting weekly gains of over 35%.

The market value of “Bitcoin” rose to $530.46 billion, while the market value of total cryptocurrencies increased by $38 billion in the last 24 hours to reach $1.174 trillion.

Cryptocurrency prices have rallied sharply since late last week, and market sentiment did a 180-degree turn after US regulators backed depositors at Silicon Valley Bank and Signature Bank. This has led some investors to speculate that the Fed will be less aggressive in raising interest rates.

Although bitcoin has not traded as closely with stocks as it has for most of 2022, its price is still largely driven by macroeconomic data and some analysts expect to see a further return on this correlation, even with events. specials. 2023

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