Crypto rebounds from post-Fed sell-off as investors shake off regulatory concerns
Publishing timestamp: 2023-03-23 16:34:38
Summary
Cryptocurrency prices rose on Thursday as investors analyzed the Federal Reserve's rate-hiking campaign and the ongoing crisis in parts of the banking system. Bitcoin rose 4.6% to $28418.61, while Ether added 4.9% to trade at $1822.70. Chart analysts are looking for bitcoin's second weekly close above $25200 to help decide where cryptocurrency may go next. The market also appeared to shrug off news of a "unhealthy regulatory climate" in crypto, including a Wells notice received by Coinbase from the SEC warning the company that it may have violated securities laws. First Republic Bank, serving as a proxy for the health of the US banking system, dropped another 6% on Thursday, bringing its month-to-date decline to 90%.
Sentiment: MIXED
Tickers: BTC.CM=, ETH.CM=, COIN,
Keywords: coinbase global inc, cryptocurrency, investment strategy, bitcoin/usd coin metrics, markets, ethereum/usd coin metrics, business news, technology,