Bitcoin, the leading cryptocurrency, is trading well above the $27,000 mark in early Monday trading, after reaching a nine-month high above $28,000 on Sunday evening as a hedge against the banking system.
The daily change in BTC was +2.77%. On Monday, March 20, the asset's price reached $27,679.0.
Bitcoin's annual gain is approaching 70%, with the price increase occurring amid increased demand for safe assets as a result of problems in the global banking system, as well as expectations that the US Federal Reserve will not raise interest rates harshly in the future.