Bank Turmoil Sparks Flight to Crypto

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Bitcoin ([^BTCUSD]( surged up more than +6% today to a 9-month high. Since tumbling to a 2-year low in late November, Bitcoin has rallied more than +73%. Bitcoin is up more than +25% this week, and other cryptocurrencies, such as Ether ([^ETHUSD](, are also up sharply. The collapse of three regional U.S. banks over the past week and liquidity woes at Credit Suisse Group AG are boosting expectations of an end to monetary tightening from global central banks that helped pummel cr…

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