Bitcoin topped $21.3K at one point in Monday trading as the recent surge in crypto prices continued. FTT, the token of troubled crypto exchange FTX, rose again counterintuitively but the increase is part of a trend. JPRubin23 and TheSamReynolds write
Bitcoin Soars Past $21.3K to Continue Its 2023 MomentumBitcoin's 2023 feel-good story continued as the largest cryptocurrency by market capitalization held firm above the $21,000 heights it last reached in the fall.
Ether was recently approaching $1,600, up roughly 1.5% from Sunday, same time. The second largest crypto in market value has jumped more than 32% this year.Crypto.com Bitcoin's surge has also come as debate over the U.S. debt ceiling intensifies. In a letter to party leaders on Friday, U.S. Treasury Secretary Janet Yellen called on Congress to raise the ceiling as soon as possible, warning that the government would reach a more than $30 trillion borrowing limit on Jan. 19 when the agency would have to take special actions to manage the government's cash flow, possibly into June.
Connors added:"BTC is more correlated to debasement than inflation, so not surprised to see BTC lift with the prospects of more debt.
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