BlockFi’s bankruptcy announcement Monday couldn’t keep the crypto markets down as the week’s positive economic data boosted cryptocurrency markets. Bitcoin and Ethereum were trading at their highest levels in a month after fighting to hold above two-year lows in the wake of the FTX collapse. Scroll down to catch up on the top crypto headlines from the week.
Be sure to also check this week’s coverage of cryptocurrency ETFs like BITQ, BLOK and BITS.
Click here for the latest Cryptocurrency Prices and News. And if you’re new to the world of Bitcoin, Ethereum, blockchain and more, stop by our What Is Cryptocurrency page.
Cryptocurrency Price Action
Bitcoin rose roughly 3% over the week and is hugging the $17,000 level as of Friday afternoon, its highest mark in a month. The world’s largest cryptocurrency has climbed off two-year lows, even as fears of a liquidity contagion stemming from the FTX bankruptcy continue to rattle the industry. Bitcoin traded above $21,000 at the beginning of the November, prior to the unraveling of FTX.
Ethereum is at its highest level since early November after jumping 7.5% to $1,300 by late Friday. The #2 crypto traded above $1,600 prior to the FTX crash.
Cryptocurrency Prices Heat Map:
Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.
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