Bitcoin's Upswing Is Reminiscent of 2019 Bull Revival

The leading cryptocurrency by market value has jumped nearly 40% to $23,000 this month, according to CoinDesk data. The rally follows a yearlong swoon that knocked 68% off the price followed by prolonged consolidation at the depths of the bear market around $18,000 and comes as the U.S. Federal Reserve (Fed) nears the tail-end of its liquidity tightening cycle that roiled risk assets, including cryptocurrencies.