Bitcoin traded just under $29,000 on Wednesday until the Federal Reserve raise rates as expected.“It’s basically an asset that trades on sentiment,” Que Nguyen, Research Affiliates CIO of Equity Strategies, said in an interview at Bloomberg’s New York headquarters.
Coinbase Global Inc. disclosed Wednesday that it received a notice from the Securities and Exchange Commission formally declaring the regulator’s plans to bring an enforcement action against the largest crypto exchange in the US.on Wednesday, the SEC sued crypto mogul Justin Sun for allegedly violating securities rules. Sun said that the complaint lacks merit.
Bitcoin “is basically following the broader markets, digesting the Fed, and basically bringing down some of the damage that was done yesterday,” said Ilan Solot, co-head of digital assets at Marex. The rebound in crypto follows an overall recovery in the equity market, where the tech-heavy Nasdaq 100 is leading gains.
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