Bitcoin nears $90K, stages best weekly return since US banking crisis

The US banking crisis is what catalyzed the 2023 bull run, according to BitMEX’s Arthur Hayes.

Bitcoin’s rally shows no signs of slowing as it edges toward $90,000 in what is shaping up to be its best weekly run since the United States banking crisis in 2023.

The Bitcoin (BTC) price surpassed the $85,000 record high on Nov. 11, but just as a temporary pit stop. The world’s first cryptocurrency is trading at $88,879 as of 8:14 am UTC, up over 29% during the past week, Cointelegraph data shows.

BTC/USD, 1-month chart. Source: Cointelegraph

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