Bitcoin Roars Back with 35% Surge, Crypto Spring in Full Bloom

Bitcoin has made a significant comeback, surging nearly 35% in three months to reach its highest level since late January. The cryptocurrency crossed the $85,000 mark on Monday, with prices climbing over 7% in the past five days.

Matt Hougan, chief investment officer at Bitwise, believes that the 'crypto winter' is over and that a new era of growth has begun. He described this period as 'crypto spring', where fundamentals are improving despite cyclical price declines.

According to Hougan, prices will catch up with improved fundamentals by the end of the year. He also noted that investors are rotating out of AI stocks and back into crypto, which had been overshadowed by the AI boom.