Bitcoin Surges on Inflation Tailwinds, Hovers Near $21k

Source: CoinDesk

“Still riding the tailwinds of falling inflation and a more upbeat view of the economy, bitcoin cracked $21,000 in early weekend trading for the first time since early November before retreating slightly. The largest cryptocurrency by market capitalization was recently trading at about $20,830, roughly flat over the previous 24 hours but up a whopping 25% this year, most of the gains occurring since last Tuesday when BTC was still hovering near $17,400. The surge comes amid renewed investor confidence that the U.S. central bank is taming inflation without casting the economy into recession, a trend that has sent most riskier assets higher this year.” (01/15/23)