$BTC Bitcoin (BTC) may be down 10% year-to-date, but it is not out. The flagship cryptocurrency is rising over 3% today on solid trading volume. Despite its construct as a non-correlated asset to traditional asset classes like stocks, bitcoin has been following the crowd of late. Today is no exception as the bitcoin price moves higher alongside gains in the stock market. Optimism that the Federal Reserve will hold interest rates steady is a likely catalyst for Bitcoin’s gains today.
Nevertheless, it’s hard to ignore that the bitcoin price is a steep 23% below its all-time high of $109,000 reached in December. Since then, it’s safe to say that the leading crypto has taken investors on a roller coaster ride.
