Bitcoin rises to highest level since June 2022

Cryptocurrency News: Cryptocurrency prices fell sharply in 2022 as rising rates prompted investors to ditch risky assets. A series of collapses at high-profile crypto firm

Highlights

• Bitcoin hit a nine-month high of $26,533 on Tuesday, in its fourth consecutive day of gains.
• Bitcoin appeared to benefit from chaos in global markets following last week’s collapse of Silicon Valley Bank.
• The dollar was little changed overall after US consumer price data on Tuesday showed inflation still rising, but at a slower pace than the previous month.
• A series of collapses at high-profile crypto firms, including major exchange FTX, left customers with large losses.
• The Federal Reserve is expected to slow or even pause hiking interest rates next week after a widely anticipated reading that may lead the Federal Reserve to slow down its interest rate hike in the coming days.

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