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First Mover Asia: Bitcoin Regains Momentum as Investors Shrug Off Banking, Fed Concerns

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Good morning, Asia. Here's what's making news: 1. Bitcoin regains its mojo to soar above $28.3K; ether rises. 2. Addresses with at least 1,000 BTC have fallen suggesting institutional investors are not acquiring more. GWilliamsJr_CMT, JPRubin23 write

So much for fears about federal monetary policy, increased regulatory activity and banking unrest.

"The crypto ecosystem is under attack. You're seeing all of those regulation by enforcement attempts, but also the banking crisis that has spread to banks serve the crypto community," Benoit Bosc, global head of product at crypto trading firm GSR Markets, told CoinDesk TV."As a result, you have this flight to quality to the majors. Bitcoin has benefited the most, and it's rallied significantly ever since those events have started.

He added:"Bitcoin has a limited supply, and so that's a better alternative. You also have issues with stable coins. So bitcoin suddenly seems more stable and safe than those at the moment."

 

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