The bitcoin price rose more than 14% yesterday, which represents the biggest daily increase since February 2021.

Bank of America provided its views on crypto in the note “Digital Assets: In the Flow”, stating that upside is probably limited for the next 6 months due to U.S. Fed tightening, as well as macro headwinds. However, this is not expected to create a “crypto winter” given the current level of user adoption and growth in development activity.