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Bitcoin surges as crypto market rallies on fresh banking sector fears

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Bitcoin surges 9% toward key level of $30,000 as crypto market rallies amid fresh banking sector fears

Bitcoin jumped as much as 9% on Wednesday, nearing the key price level of $30,000, as banking sector concerns re-emerged.

Bitcoin rallied through the turmoil in March as Silicon Valley Bank failed, and industry observers said a similar situation is playing out for the world's largest crypto amid the latest bout of uncertainty. Bitcoin's rally Wednesday ended a five-day losing streak. The token's been on a tear in April and 2023 broadly, hitting 10-month highs earlier this month to nearly $31,000.as altcoins like solana and polygon also jumped 8% and 9%.

 

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