The global crypto market snapped out of a tepid start to the month after hotter-than-expected consumer inflation data sparked hopes of a third consecutive US Fed rate cut.
The cryptocurrency sector valuation advanced to a new all-time high of $3.68 trillion on Monday. Bitcoin price rose 3% on Monday, hitting a new peak above $107,000 as investors scoop up BTC ahead of expected Fed rate cut on Wednesday. MicroStrategy acquired 15,350 BTC at an average price of $100,386.
The current price movements reflect typical market behavior, shaped by numerous factors like Market Makers, global news, macroeconomic indices, and ETF netflows.” - Gediminas Butkus, CEO, Locked.Money Crypto news updates: Coinbase legal team reacts to $1 billion lawsuit over wBTC delisting Coinbase is grappling with a $1 billion lawsuit filed by BiT Global Digital, which accuses the cryptocurrency exchange of anti-competitive practices surrounding its recent delisting of Wrapped Bitcoin .
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