Bitcoin Surge over $24.7
Just when bitcoin seems to be going south, investors are sending the largest cryptocurrency from a high market cap, thanks in large part to a small contraction. BTC was recently trading at around $24,625, up 11% from the same time on Tuesday. Bitcoin last traded above $24,500 in August. Wednesday’s increase followed a tepid consumer price index that left investors worried about the future of the US economy and the Fed’s next monetary policy move.

But investors are selling less that seems to be the reason for the unexpected change in recent days. Data from coringlider providing income for a Wednesday to pay the customer payments in the first $ 25 million past.

Eert has almost every day paying the day, spreading $ 1,700 before setting a little below this door. The second-largest crypto by market value recently rose by more than 9%. Other majors turned bright green over the course of the day with YGG, the token from gaming guild Yield Guild Games, and NEAR, the crypto native to smart contract platform Near Protocol, each recently rising by more than 11%. The CoinDesk Market Index (CMI), a measure of the performance of the broader digital asset market, rose recently by 10%.

But while the equity market was generally bleak with tech-heavy Nasdaq and the S&P 500 closing down less than 1 percent, crypto-related stocks rallied with exchange Coinbase ( COIN ) and bitcoin miner Marathon Digital Holdings ( MARA ) rising. 17% and 18%, respectively. Enterprise software company MicroStrategy (MSTR), the top BTC holder, recently rose more than 9%.

FTX’s sad saga continues as US federal prosecutors asked the US District Court judge for the Southern District of New York to modify FTX founder Sam Bankman-Fried’s parole to prohibit him from using mobile phones or the internet except in specific circumstances. . Prosecutors allege that Bankman-Fried used the virtual private network at least twice, supposedly to watch a National Football League game. It’s a sharp improvement from previous requests, most of which saw lawyers asking that Bankman-Fried be restricted from using encrypted or ephemeral messaging apps. In an interview with CoinDesk TV, Joey Krug, an investor and co-researcher of Augur and Eco, said that he thought “the market bottomed from June of last year,” but he said it was not. Also said: \” It will probably continue to be less in the market because inflation is not going as fast as people expected.

Krug added: \”The second half of the year will be a big one for crypto. Many people who are going to sell crypto have already sold.”