Bitcoin has climbed about 55% so far this year and is in touching distance of the highest level since June 2022.
Nervousness about the banking sector after the collapse of three regional US lenders and pressure on Credit Suisse Group AG has triggered a powerful rally in sovereign bonds as investors seek out perceived havens.
“The plunge in yields is welcome news for many crypto startups,” Edward Moya, senior market analyst with Oanda Corp., wrote in a note.
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