Check out Why the Bitcoin Price boosted around 3% in 24 Hours
Join Our Telegram channel to stay up to date on breaking news coverage The most recent inflation figures on Tuesday appeared to show that the U.S. central bank was now succeeding in its fight against inflation, which delighted cryptocurrency investors. This caused Bitcoin’s price to be boosted to a decent level which has created a bullish sentiment in the market in the short term. Recently, Bitcoin was traded for over $16,700, up more than 2% from the previous day. The biggest cryptocurrency has been rising since Monday, despite the growing negative effects of the liquidity issue at the crypto exchange FTX and its request for bankruptcy protection under Chapter 11. Because of its “substantial exposure” to FTX, cryptocurrency lender BlockFi is reportedly ready to file for bankruptcy, according to The Wall Street Journal. Although Bitcoin has shown resilience at the moment, it is difficult to believe that investors are willing to test the waters unless we are m...