Bitcoin climbs 5% above $28,000 as investors shrug off regulatory crackdowns
Publishing timestamp: 2023-03-29 06:36:50
Summary
Bitcoin surged 5% to $28474, retaking the $28000 level after initially dipping below it on Monday following news of the CFTC's lawsuit against Binance. Investors appeared to be shaking off anxiety surrounding U.S. regulatory crackdown on crypto and betting on the U.S. Federal Reserve reversing its interest rate hiking path later this year. The reason for the jump on Wednesday was not immediately clear, but it comes amid a broad rise in U.S. stocks. Bitcoin has been known to follow movements in equity markets, with investors treating it like a traditional risk asset.
Sentiment: POSITIVE
Tickers: CSG.N-CH, BTC.CM=, COIN, UBSG-CH,
Keywords: ubs group ag, technology, coinbase global inc, markets, business news, internet, credit suisse group ag, currency markets, bitcoin/usd coin metrics, cryptocurrency,