Bitcoin rallies after collapses of Signature, SVB and Silvergate. Here’s why

Bitcoin is seeing its best three-day performance since October 2019, as the collapse of three U.S. banks in a week fueled some investors’ hope that the Federal Reserve may have to take a less aggressive approach with its interest rate hikes.

The largest cryptocurrency BTCUSD on Tuesday climbed to its highest level since June 2022, up 8% over the past 24 hours and up 30% over the past three days, according to CoinDesk data.