Moody's downgrade sparks Bitcoin surge, rattles U.S. banks

Bitcoin broke out of a two-week trading lull and rose by about 2.5% as Moody's downgraded the U.S. banking sector, putting several major banks on watch. The decoupling of bitcoin from the stock market was observed, with crypto-related equities rising while the stock market fell. Other cryptocurrencies, including Ether, Solana, Polygon, Uniswap, and XRP, also experienced gains.