Bitcoin rises to its highest level in a month, bouncing from January lows

The price of bitcoin climbed more than 6% on Monday, hitting its highest level in a month.

Bitcoin rose to as much as $44,500, according to Coin Metrics, its highest level since Jan. 5. Back then, it hit a high of $47,013. As of 4:02 p.m. ET, bitcoin traded at $44,068.88.

Those moves built on a sharp pop on Friday, following the release of better-than-expected U.S. jobs data. Many investors saw the data as further encouragement for the Federal Reserve to begin hiking its benchmark interest rate this year, beginning next...