Amid the spread of global banking contagion, Bitcoin (BTC) continues to gain favor with investors, as the best crypto hit its highest price in more than nine months on Monday.

Data provided by TradingView shows that in the first few hours of trading on Monday, March 20, 2023, Bitcoin bulls reached a 2023 high of $28,527 before returning to the newly established support level of $28,000. According to Kitco senior technical analyst Jim Wyckoff, futures trading seems confident that the price of BTC will continue to improve as “April Bitcoin futures prices hit a new high at the start of trading in the United States on Monday.”

For Marcus Sotiriou, a market analyst at digital asset broker GlobalBlock, the performance of Bitcoin futures in a note shared with Kitco Crypto, which is a signal that speculative interest is increasing.