Bitcoin climbs to 9-month high as bank turmoil sparks rally

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Bitcoin climbs to 9-month high as bank turmoil sparks rally
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Bitcoin hovered near nine-month highs, and has closed out its best week in four years as turmoil in traditional banking drives some investors to turn to digital assets

The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes.

on Monday after UBS sealed its state-backed takeover of Credit Suisse, a deal orchestrated in an attempt to restore confidence in a battered sector.

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