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LONDON: Major cryptocurrency bitcoin hit a 9-month high of $26,533 on Tuesday, a fourth straight day of gains, as it appeared to benefit from chaos in global markets following the collapse of the Silicon Valley bank last week.
Bitcoin rose to $26,533 by 1306 GMT, about 10% its highest day since June 2022. It rose 7.6% on Sunday and 9.1% on Monday.
The dollar was little changed overall after U.S. consumer price data on Tuesday showed inflation continued to rise, but at a slower pace than in the previous month, amid widespread speculation that the U.S. Federal Reserve could slow or even halt interest rates next week.
Binance Crypto Exchange to Stop Sterling Transfers
Cryptocurrency prices fell sharply in 2022 as rising interest rates caused investors to ditch risky assets. A series of crashes at prominent crypto companies, including major exchange FTX, left customers with heavy losses.
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