cryptocurrency markets were trading higher in Wednesday's trade amid easing worries over bank industry turmoil and release of largely on-target US inflation data.
Bitcoin (BTC) rose 1.95% to $24,943 whereas Ethereum (ETH) was above the $1,700 level. BTC volume in the last 24 hours stood at approximately $53.82 billion, rising 12.50% in the last 24 hours. «The UK government bailing out the Silicon Valley Bank has created a positive sentiment within the investment community and which may have increased buying activity.
As per the latest data, US consumer inflation has slowed down but it’s still on the higher side which may drive Fed to continue its hawkish stance.
If the macroeconomic factors continue to remain favourable then we may see Bitcoin testing $30,000 level very soon,» Shivam Thakral, CEO of BuyUcoin, said.Read more on economictimes.indiatimes.com