Bitcoin blows past $19,000 for the first time since FTX collapse

Quick Take

  • Markets rallied across the board after U.S. inflation slowed in December. 

Bitcoin surpassed $19,000 for the first time since Nov. 8, when FTX had a tentative deal to sell to Binance.

The biggest cryptocurrency rose more than 8% over the past day. Traditional markets also rallied after reports that inflation in the U.S. slowed in December.

BTCUSD chart by TradingView

Coinbase closed up almost 9%, while Silvergate rose almost 13% and MicroStrategy increased 7.9%.

Ether was higher by 6.4% over the past 24 hours.

Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.

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