The asset exploded from under $20,000 to over $28,000 during the US banking crisis, which actually expanded to Europe, with UBS having to acquire Credit Suisse and Deutsche Bank’s stocks plummeting. The Fed’s latest interest rate hike on Wednesday brought more volatility to BTC, which dumped by $2,000 in hours.
However, the bulls came back to play almost immediately, and bitcoin spiked to over $29,000 briefly on Friday. After charting yet another 9-month high above that level, the cryptocurrency retraced to under $28,000, where it has remained for the past few days.
