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Bitcoin, crypto prices bounce back following DOJ announcement
UPDATED: January 18, 2023, 1:20PM EST
<span class="acf-media-credit"><span class="acf-credit"><span class="acf-credit"><a href="https://www.theblockcrypto.com/" target="_blank">The Block</a></span></span></span>
Quick Take
- Bitcoin, ether and other cryptocurrencies began to recover following the U.S. Department of Justice’s actions against a crypto exchange called Bitzlato.
- Prices had tumbled following the initial announcement that an enforcement action was pending.
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Bitcoin, ether and other crypto prices recovered as the U.S. Department of Justice announced an enforcement action against a little-known exchange called Bitzlato.
Bitcoin was trading around $21,000 by 12:15 p.m. EST today, up over 3% in the past hour, according to TradingView data.
The leading cryptocurrency by market cap fell by about $1,000 after the DOJ and Treasury said they would announce a joint enforcement action against an international crypto entity today.
Ether showed similar signs of recovery, racing toward $1,600, having fallen to about $1,500 as the DOJ's announcement spooked crypto markets.
