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First Mover Asia: Resilient Bitcoin Rebounds Above $24K Despite Investors' Inflation, Labor Market Concerns

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Good Morning Asia, here's what's making news today: 1. Bitcoin showed its resilience in returning to its perch above $24K on Thursday. 2. Bitcoin funding rates' 10-day, positive streak is a bullish sign. JPRubin23 and GWilliamsJr_CMT write

Bitcoin spent Thursday in a fretfully, uncertain mood, teeter-tottering below and above $24,000 as investors continued to evaluate the U.S. central bank's ongoing dialogue about monetary policy and jobs data suggesting that inflation would remain problematic.

"People feel that the worst may be over in terms of bad news that we had in the crypto sector last year, and that's why it's [bitcoin] more resilient," Bradley Duke, co-CEO of institutional-grade digital asset-back securities provider ETC Group, told CoinDesk's"First Mover" program.

 

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