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Markets: Bitcoin, Ether, Other Major Tokens Rise Despite Hotter-Than-Expected CPI Reading

Bitcoin rose in Wednesday morning trading in Asia to move back above US$22,000 as investors shrugged off a seeming U.S. regulatory crackdown on digital assets and data showing U.S. inflation for January was above forecasts. The world’s leading cryptocurrency led other tokens higher, with Ether and all other top 10 non-stablecoin cryptocurrencies gaining ground. Cardano posted the largest increase. However, most tokens remain underwater when compared to prices seven days ago. The crypto market capitalization rose 3.1% to US$1.03 trillion, with total trading volume up 1.64% to US$58.83 billion. Markets have been rocked the past week after regulatory authorities in the U.S. took aim at crypto-staking services and certain stablecoins. (forkast)

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