Bitcoin is up 70% in USD price to start the year. This appreciation can be attributed to a number of different drivers.
Here are a few that I have identified:
Bitcoin is used as a hedge against potential US default related to debt limit crisis
Bitcoin is used as a hedge against a worsening of the banking crisis
Bitcoin is used as a way to front-run a potential pivot by the Federal Reserve
Bitcoin is used as a hedge against future US sanctions for various countries
