Bitcoin string of gains early in 2023 has seen it rise from about $16,500 to begin the year to a one-month high of $18,250 earlier today. While part of the advance was likely due to nothing more than some investor bottom-fishing after the crypto’s ugly 2022 run, at least some of the gains were thanks to optimism that the Fed monetary tightening cycle could come to a close at some point in early-mid 2023. Whether today’s inflation report hastens that remains to be seen.