Bitcoin price breaks $44,000 after rising 16% in six days

Bitcoin broke through the $44,000 barrier after the cryptocurrency recorded its longest winning streak since last May, sparking speculation about whether the rally reflects investors’ growing conviction that the Federal Reserve is preparing to ease its monetary policy.

The cryptocurrency, the largest digital asset in the crypto sector, had a six-day winning streak through Tuesday, rising about 16%, and extended its gains in early Asian trading on Wednesday. Its total rise since the beginning of 2023 is about 165%, compared to the low it reached during the cryptocurrency crisis last year.