Bitcoin Barrels Toward Historic January as Crypto Market Jumps by $280 Billion
- Largest token has added more than 40% since turn of year
- Hopes of end to monetary tightening spurred crypto bounce
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Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing.
The largest token is up 39% since the turn of the year, a first-month gain bettered only twice before when crypto was in its infancy. Smaller coins like Solana, Axie Infinity and Decentraland have doubled in value, part of a $280 billion January climb in digital assets overall, CoinGecko figures show. Bitcoin retreated 2.9% to $23,111 as of 10:44 a.m. in New York on Monday amid broad declines in risk assets.