Bitcoin Surges, Ethereum Nears $4000 As Treasury Yields Pop, Dollar Weakens — ‘Deficit Spending Crisis Is Much Worse Than You Think’ (edited)

Capital markets commentator The Kobeissi Letter hinted at a global shift away from fiat currencies, as cryptocurrencies surged alongside a weakening U.S. dollar

What happened: In an X post on Monday, The Kobeissi Letter underlined the strong bullish momentum in top cryptocurrencies, such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

While Bitcoin recently surpassed $120,000 for the first time in history, the second-largest cryptocurrency was swiftly moving toward reclaiming $4,000 after a gap of over eight months.

The post also noted gold’s spike above $3,400 per troy ounce and only 3% away from a record high.

Full story available on Benzinga.com