Bitcoin jumps to highest since June as global markets rally gathers pace

Bitcoin hit a nine-month high on Tuesday, taking gains past 30% in four days as it shrugged off chaos in global markets after last week's collapse of Silicon Valley Bank and rode expectations that US interest rates won't rise so fast.

Bitcoin jumped as much as 9.6% to $26,533, its highest since June 2022, in its fourth straight days of gains.

Major cryptocurrencies have been buoyed in recent days by US authorities announcing plans to limit the fallout from the collapse of Silicon Valley Bank (SVB).

U.S. authorities' action helped stabilise the major USDC stablecoin, whose issuer Circle had deposits