Bitcoin, crypto prices bounce back following DOJ announcement

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.

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. 

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