Bitcoin Barrels Past Banking Sector Troubles Toward One of its Biggest Weekly Gains
- Largest digital token has climbed about 25% so far this week
- Sentiment lifted by growing expectations of eventual rate cuts
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Bitcoin is on course for one of its biggest weekly gains of recent years, bolstered by wagers on eventual cuts in interest rates as the token rides out convulsions in the banking sector.
The largest digital asset is up about 25% since the start of Monday. It’s had a weekly jump of at least that much only 10 times in the past five years, data compiled by Bloomberg show. Smaller coins like Ether and Dogecoin are also rallying.