Bitcoin Trades at $23,000 After Hitting a 5-Month High
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, 2023-01-26 09:50:00,
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Bitcoin has had a spectacular start to 2023.
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Bitcoin and other cryptocurrencies fell slightly Thursday after a key economic report. In earlier trading, the price of the biggest crypto was headed toward highs not seen in more than five months.
The price of Bitcoin fell 2% over the past 24 hours to $23,075. The largest digital asset surged above $23,700 late Wednesday, the highest levels since early last August.
It has been a roaring start to the year for digital assets, which have rallied back above levels not seen since crypto exchange FTX’s November bankruptcy rocked markets. Cryptos have led risk-sensitive assets higher, with the
Dow Jones Industrial Average
and
S&P 500
also notching gains as investors became more optimistic that inflation is cooling and that Federal Reserve monetary policy will become less aggressive.
“As January’s crypto rebound maintains momentum, Bitcoin and Ethereum notched a third straight week of gains, both up more than 30% since the year began,” analysts at crypto exchange
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