The top cryptocurrency by market value has surged nearly 40% to $23,000 this month, according to CoinDesk data. The rally follows a year of stupor when prices fell 68%, followed by a prolonged deep consolidation in a bear market around $18,000 and the US Federal Reserve’s (Fed) turmoil in risk assets. It occurs when we are nearing the end of a liquidity tightening cycle. , including cryptocurrencies.
