Bitcoin is having an epic January
The largest token is up over 40% since the turn of the year, a first-month gain bettered only twice before when crypto was in its infancy.
The rally in virtual coins has weathered ongoing fallout from the collapse of Sam Bankman-Fried’s FTX exchange — such as the bankruptcy of crypto lender Genesis Global Holdco LLC and a spate of layoffs across the industry. One risk is that the soft economic landing markets are hoping for is fanciful because rates must stay higher for longer.
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