Bitcoin (BTC-USD) is headed for its best month since 2021 as risk-on appetite increasingly comes back to life across financial markets. The world's largest digital token by market cap (BTC-USD) appears to be building momentum towards $25K, climbing 4.4% to $24.16K as of around 11:00 a.m. ET. The crypto is up 7.7% in the past five sessions and +18.8% M/M, though still off 65% from its November peak of $68.9K. Similarly, all three major U.S. stock indices keep advancing just days after the Federal Reserve's rate hike of 75 basis points. From here on out, though, interest-rate increases could be slower as the central bank reaches more restrictive territory and economic growth slows, hence the extended rally in risk assets. "In perspective, while this week has for the first time in over a month seen some markets recover the losses of previous weeks, there is still an undoubtably considerable mountain to climb in terms of "normality" or the hopes of a return to the highs of 2021 anytime soon," said Adrian Kenny, a senior sales trader at digital asset broker GLobalBlock, wrote in a note. While some investors expect the Fed to pivot to rate cuts as soon as 2023, others suggest that monetary tightening will continue only until inflation comes down in a meaningful way. Keep in mind that the central bank has stressed that taming inflation is its number one priority. "Inflation pressures suggest more tightening to come via higher interes...
