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Market Wrap: Cryptos Recover Slightly From FTX Fatigue With a Dose of Encouraging Inflation Data

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$BTC and other cryptos regained ground lost due to FTX when the latest CPI showed inflation down by more than expected. Investors hope the Federal Reserve will soon ratchet back its monetary hawkishness. JPRubin23, and _jocelynyang_ report

was recently trading near $18,000, a more than 13% increase over the past 24 hours that made its Wednesday plunge below $16,000 – to a level not seen since late 2020 – seem antiquated.was recently changing hands over $1,300, up almost 17% from Wednesday, same time.

All other cryptos in the top 20 by market capitalization were feeling more like themselves again, rising well into the double digits as FTX and inflation fatigue waned – at least temporarily. Even FTX’s beleaguered FTT token, whose accumulation by the exchange’s sister company Alameda Research ignited the current mess, was up over 50% to $3.40.

 

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JPRubin23 _jocelynyang_ Since the beginning of $BTC's mission is to fight the dominance of paper money, if you continue to sell your assets, shares or crypto, the intrinsic value of the dollar will continue to increase.

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