Bitcoin surged above $21,000 on Saturday, prompting optimism that it may have hit a bottom and inflation may have peaked.
The largest cryptocurrency rose 7.5% to $21,299. It has not crossed $20,000 since Nov. 8, and Saturday marked his 11th straight day of gains. Ether, the second largest, saw him rise by 9.7%, while other tokens such as Cardano and Dogecoin also posted solid gains. According to data from CoinGecko, the market capitalization of all crypto assets has crossed $1 trillion for the first time since early November.