The price of bitcoin rose above $45,000 for the first time since Jan. 11, when trading of U.S. spot bitcoin ETFs began.
Bitcoin was last higher by nearly 3% at $45,391.18, according to Coin Metrics, pulling crypto-related stocks higher, although ether hovered at the flat line.
The flagship cryptocurrency's move came as shares of New York Community Bancorp extended losses Thursday.
Worries about U.S. regional banks have worked in bitcoin's favor since last year's regional banking crisis, when investors who lost confidence in the banks turned to the cryptocurrency as a hedge against uncertainty.
Traders also point our that bitcoin accumulation by large investors, known as "whales," has increased in the past two weeks, when the cryptocurrency's price has been stuck below December and January highs.
Persons:
Bitcoin
Organizations:
New York Community Bancorp
Locations:
U.S