The BTC/USD price was trading at 16,500 on Wednesday, where it has been since November 23. It has risen slightly by about 8% from its lowest level this month.Bitcoin and other cryptocurrencies have been ranging recently as concerns about contagion continued. There have been several new revelations about FTX and Alameda Research. For example, on Tuesday, BlockFi filed for bankruptcy and sued FTX for its Robinhood investments.
Historically, the yield curve is the most accurate predictor of a recession. This explains why the US dollar has risen and stocks have retreated. The Dow Jones index dropped by 60 points while the Nasdaq 100 retreated by 80 points.
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