Bitcoin has surged past $30,000 for the first time since June, a move that has now seen the most popular crypto gain more than 80% year-to-date. JPRubin23 reports
) moved past the $30,000 level for the first time since June 10, 2022 as March's banking turbulence faded further into the distance and investors grew more optimistic about U.S. central bank monetary policy.
A check of the bond market shows the U.S. 2-Year Treasury note having fallen to below 4% from a peak above 5% in early March as traders rapidly reversed their expectations of future Fed rate hikes. “Undeniably, Bitcoin is decoupling from traditional equities and demonstrating its increasing appeal as a safe haven for investors across retail and institutional spheres," Bob Ras, co-founder of Sologenic, a blockchain-powered network for tokenizing securities, said in a note to CoinDesk."While the 2020-2021 period was perceived as Bitcoin's breakthrough moment, the present time truly marks its ascendance onto the global stage as a formidable asset.
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