Amidst high global inflation rates, Bitcoin and major market equities have experienced an uptick in the first quarter of 2023. The largest digital asset by market capitalization, Bitcoin, has regained its pre-FTX levels and is on track to reclaim its pre-Terra Luna UST standings. Additionally, it has broken out of a macro logarithmic downtrend during the recent bull rally.

Bitcoin’s Rise Amidst High Inflation

With inflation rates on the rise globally, investors are seeking out alternative investment opportunities. This has led to a surge in the demand for Bitcoin and other crypto assets. As a result, Bitcoin has seen an increase in its value, reaching its pre-FTX levels and on its way to reclaiming its pre-Terra Luna UST standings. This rise in Bitcoin’s value is attributed to the shift in investors’ preferences towards risky assets.

Similarly, major global indexes like S&P 500 and Dow Jones Industrial Average Index are also expected to revisit their all-time highs (ATH) soon. Despite a period of consolidation over the past three months, these indexes are likely to break out due to the shift in investors’ preferences towards equities.