After cryptocurrencies began their climb on Friday, surpassing $27,000 for the second time this week, Bitcoin price has regained nearly all of its losses from 2022.
In recent days, the cryptocurrency markets have escaped the grip of bears, with the majority of tokens breaking out of upward consolidation. At the time of writing, Bitcoin was halfway its $28K target – its highest since nine months ago – trading at $27,519, an increase of 36% over the previous week, according to statistics from crypto market tracker Coingeckos.
Bitcoin Price Shows Resilience
The price of Bitcoin rose 22% in the last two weeks and 13% in the last 30 days, according to the most recent data. The rise has raised the worldwide crypto market capitalization by over 5.4%. While some market experts say this to be a short-term bounce, a more significant price move appears imminent.
The overnight data from the Federal Reserve’s balance sheet indicating the injection of about $300 billion into the economy as part of the reaction to the banking crisis acted as a spark for new gains.
Bitcoin Emerges Victorious From Banking…
