Bitcoin has rallied above $50,000 for the first time in a month, gaining 4%. It’s a sign that cryptocurrencies are defying the mounting pressures in other financial markets, while regulatory risks on crypto also intensify.
Cryptos have been strong for days: Ethereum, the second-largest token, was trading around $3,440 on Tuesday, up 20% in the last week. Other major tokens that are rallying include Binance Coin, XRP, Solana, and Dogecoin—the latter getting a 9% pop in the last 24 hours to $0.2501.
The…
