Bitcoin strengthens over $43K, ethereum jumps firmly above $3K amid risk-on sentiment

Bitcoin (BTC-USD) and ethereum (ETH-USD) tokens are rising Thursday as investors' risk-on sentiment looms throughout U.S. stocks. Bitcoin (BTC-USD +4.2%) is climbing to sub $44K, though slightly below the 200-day simple moving average on a 52-week chart, recently standing at $44.4K. Ethereum (ETH-USD +5.0%) is also creeping up to $3.1K. The two largest cryptos by market cap have been largely range-bound for the better part of two months, in addition to changing hands well below all-time highs in mid-November. “We are neither in an aggressive bull market, nor are we in a bear market,” Strahinja Savic, head of data and analytics at FRNT Financial, told Bloomberg. “Bitcoin, and the broader crypto market, are seeing the effects of macro uncertainty caused by rate hikes, Russia-Ukraine conflict, et cetera.” Given Bitcoin's (BTC-USD) positive correlation with U.S. stocks, all three major indices are in the green intraday, with the Dow Jones (DJI) +0.6%, S&P 500 (SP500) +0.9% and