BREAKING: Market Rally Shows Strength, But Key Data Loom
Cryptocurrency News: Cryptocurrency prices are higher Wednesday as Bitcoin and Ethereum’s overnight gains continued. The top two cryptos have nearly recovered this week’s losses sparked by the Genesis Global bankruptcy rumblings. Scroll down to catch up on the latest crypto headlines.
FTX lawyers say a substantial amount of the bankrupt crypto exchange’s assets are missing or stolen. Meanwhile, Cathie Wood keeps buying Coinbase (COIN) and GBTC stock.
Genesis says it doesn’t plan to file for bankruptcy imminently. But the crypto broker and parent Digital Currency Group still face a major liquidity crunch, and fears of the fallout sent Bitcoin lower Monday.
With sky-high volatility, here’s how to generate income on Bitcoin right now.
Click here to jump to more on today’s Cryptocurrency News.
Bitcoin topped $16,500 Wednesday afternoon, up about 6% from Monday’s low and narrowing the gap to its recent Nov. 10 high. The world’s largest cryptocurrency sank to two-year lows Monday on renewed fears the liquidity contagion could affect other players. Bitcoin had traded above $21,000 at the beginning of the month — prior to the unraveling of crypto exchange FTX.
Ethereum rose to $1,170 Wednesday, up nearly 15% from a Tuesday low, and about 13% from a Nov. 10 high. A suspected hacker transferred $477 million in cryptocurrencies from FTX on Nov. 12 and swapped them for Ethereum, according to Blockchain analysis firm Elliptic. The hacker began dumping the Ethereum for Bitcoin on Monday, sending the price lower.
Scroll down for more cryptocurrency news and price updates.
Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.
How Crypto’s Collapse May Have Done The Economy A Favor
The FTX Fallout Is Laying Crypto Bare. It’s Now Sink Or Swim For The Industry
Who’s Who In The FTX Collapse: From Sam Bankman-Fried To Caroline Ellison
Off The Books: FTX, Alameda Neglected To Keep Records Of Transactions
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11/25/2022 Crypto News Weekly Wrap-Up: Catch up on the top headlines from the past week
11/25/2022 Crypto News Weekly Wrap-Up: Catch up on the top headlines…
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