The increase comes ahead of the December 2022 Consumer Price Index (CPI) release in the United States and a speech on the economy by Jerome Powell, Chair of the Federal Reserve.
FTX Contagion Continues, Digital Currency Group at Odds with Institutional Clients
The financial turmoil at FTX has continued to affect the crypto industry, with Digital Currency Group (DCG) at odds with institutional clients over its handling of solvency issues at subsidiary Genesis Trading.
Signs of Recovery for Bitcoin Despite FTX Turmoil
Despite the ongoing issues at FTX, Bitcoin has shown signs of recovery, with miners among those benefiting from the situation.
CPI Data and Powell's Speech Expected to Affect Risk Assets
The upcoming release of the CPI data and Powell's speech on the economy are expected to impact risk assets, including cryptocurrency. Traders and analysts are closely watching the CPI, as it could lead to shifts in Federal Reserve policy. A positive impact on inflation could increase hopes for the Fed to decrease or cancel interest rate hikes, which would boost risk assets.