The bear market rally that perplexed much of the crypto industry continued into the weekend as Bitcoin hit $23,230 for the first time since August 2022. Bitcoin is now up 50% from its local low of $15,400.

Bitcoin has moved into a leading position among global assets outperforming major asset classes across the board. In addition, 2023 has seen growth across multiple sectors as inflation begins to cool off. Since November lows, gold and the S&P500 are up 19% and 13%, respectively.

Ethereum has seen a similar performance to Bitcoin throughout 2023 as it jumped to $1,647 from a low of $1,074 in November following the FTX collapse.