May gray turned to June gloom on Thursday as crypto prices veered slightly into the red.
Bitcoin soared more than 60% from January, reaching to about $31,000 at one point in mid-April as crypto regained its luster as a safe-haven asset following a string of U.S. bank failures that raised concerns about traditional finance. Groth noted optimistically that markets had recently priced in a resumption of more hawkish monetary policy after hopes rose in early May amid encouraging signs that inflation was waning enough to allow the U.S. central bank to halt its nearly year-long campaign of interest rate increases.
In an email to CoinDesk, Leo Mizuhara, CEO of institutional crypto management platform Hashnote, wrote that crypto markets had “dodged a bullet, thanks to the resolution to the debt ceiling crisis and a growing embrace of digital assets in Asia, particularly in Hong Hong, which has been trying to create easier access for retail investors.
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