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- Bitcoin is having a "phenomenal" start to the year, up almost 50% after tanking in 2022.
- The cryptocurrency has shaken off jitters sparked by high-profile failures like FTX's implosion.
- But investors' growing acceptance of further US interest-rate hikes ahead stand to dent its rally.
Bitcoin has been moving from strength to strength this year after a nightmarish 2022, but the gathering gloom about the chance of more US interest-rate hikes is putting the rally at risk.
The world's biggest cryptocurrency by market value has shaken off the shock of last year's high-profile crypto bankruptcies, including Three Arrows Capital and FTX, which shook confidence in the sector.