Bitcoin Bounces Off Recent Lows for Biggest Gain in Six Weeks
- Cryptocurrency fell last week by the most since November
- Risk aversion eases as rate pause expectations increase
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Bitcoin posted its biggest gain in almost six weeks amid increased optimism that central banks will pause interest-rate hikes that had helped to dent the appeal of cryptocurrencies.
The original digital currency rose as much as 3.6% to $26,794 on Wednesday, the biggest one-day jump since July 13. The increase comes on the heels of Bitcoin’s worst week since November and crypto exchange FTX’s collapse.