Bitcoin is approaching the $90,000 mark, with a surge of over 29% over the past week, marking its best weekly return since the US banking crisis in March 2023. As of November 11, the cryptocurrency was trading at $88,879. The significant increase in value reflects a positive momentum in the market, attributed to the renewed interest following financial turmoil from last year. According to Vetle Lunde of K33 Research, Bitcoin has experienced its most substantial seven-day return since March 2023, with a remarkable growth of its market capitalization by $413 billion during this period. The March crisis was sparked by the sudden collapse of major banks, including Silvergate Bank and Signature Bank. This resurgence in Bitcoin's price indicates a growing confidence in the cryptocurrency market after a period of volatility.

Source 🔗