Good month for crypto

Bitcoin jumped more than 17% in July, its best performance since October. Ether rose 57%, its strongest monthly gain since January 2021. The rally was in step with gains of riskier assets such as stocks as investors bet that economic weakness could deter the Fed from aggressively tightening monetary policy. Gains were not limited to bitcoin, as the value of the global cryptocurrency market crept back above US$1.15 trillion last month, adding over US$255 billion since the end of June, CoinGecko data showed. Assets under management in digital asset investment products rose 16.9% to US$25.9 billion in July, reversing June's decline of 36.8%, according to research firm CryptoCompare.