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Bitcoin’s 2023 rally gathers steam as cryptocurrency briefly tops $23,000

January 23, 2023

Via: CNBC

Bitcoin rose further over the weekend, as traders took news of another crypto bankruptcy in their stride and placed bets on a Federal Reserve “pivot” to cutting interest rates.

The price of the No. 1 token briefly topped $23,000 for the first time since Aug. 19, 2022, according to data from CoinGecko. It has since ebbed slightly to $22,859.20. The jump brings bitcoin up almost 39% since the start of January.

Ether, the second-biggest digital coin, rallied as high as $1,664.78 on Saturday — the first time it has surpassed $1,600 since Nov. 7, 2022. As of 6:40 a.m. ET, ether was worth $1,639.30 apiece.

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