Bitcoin briefly tops $28,000 for the first time in 9 months

Bitcoin briefly tops $28,000 for the first time in 9 months- Check out in detail

Bitcoin briefly tops $28,000 for the first time in 9 months after bank crisis sparks weekend rally

[{"selector":"#anim-b7a8088c-60a2-42a9-9bc1-a86a05ee18cb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.925033264816047%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

Bitcoin climbed past the $28,000 level over the weekend as investors rediscover its appeal as an alternative banking system.

[{"selector":"#anim-2c604e94-198b-4359-b9d4-eb8d26846ce6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(29.635349033913506%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Arrow

[{"selector":"#anim-c4553b97-af9c-4c7c-b760-78c41bf5705d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-29.63534903391351%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] On Monday, the cryptocurrency had pulled back a bit. Bitcoin fell more than 2% to $27,705.23, according to Coin Metrics. Arrow

Earlier in the day, it hit $28,554.07, it’s highest level in nine months.

[{"selector":"#anim-3ec5009b-3268-4944-aee7-0137959816f0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Arrow

Meanwhile, ether fell 3.5% to $1,765.60.

[{"selector":"#anim-c7b3cc6d-89f1-41a7-9cb0-86a121cdfd77 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

As of Monday afternoon, there is about a 72% chance of a quarter-point increase by the Fed, according to CME Group’s FedWatch tool.

[{"selector":"#anim-6b9a04f0-763c-4589-90c2-2b987d77ba80 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.499999772451451%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Arrow

[{"selector":"#anim-a0f28245-c392-4c39-bc2a-6d97dcb4c77d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.74910490725541%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The other 28% anticipates there will be no hike and that Chairman Jerome Powell may start to ease his aggressive tightening campaign due to the emerging financi Arrow

[{"selector":"#anim-1ec2d36c-9481-41fe-bd41-ae7d1cfad8c9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Bitcoin is coming off its best week since January 2021, which was right before the first bull run that year, while ether just posted its best weekly gain since August 2021. The two are up for the year by 67% and 46%, respectively. Arrow

Hope you people found the story informative. For more such interesting stuff, click on the link given below

[{"selector":"#anim-c5e6251b-2db9-4479-951a-aa96c8707ecd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow SWIPE UP