Cryptocurrencies
FOMO Stirs Again in Bitcoin’s Best Start Since Before Pandemic
- The world’s largest token has risen over 28% so far in January
- Bets that rate hikes will soon end are aiding market sentiment
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Bitcoin has bolted out of January’s starting gates with a climb of more than 26%, turning up the heat on bears who anticipated more challenges for riskier investments after sharp selloffs in 2022.
The token’s advance so far is the best for the opening month of a year since a 31% rally in 2020 before the pandemic hit. The surge has helped to lift the overall value of digital assets past $1 trillion, a level that gave way in November when the FTX exchange imploded, CoinGecko data shows.