What happened
Cryptocurrencies rose today as investors cheered better-than-expected inflation data that suggests the Federal Reserve’s rapid interest rate hikes this year are starting to do their job.
Since late afternoon yesterday, the price of the world’s largest cryptocurrency, Bitcoin (BTC 3.36%), has traded 3.8% higher as of 11:36 a.m. ET today, hovering just under $18,000.
Meanwhile, the price of the world’s second-largest cryptocurrency, Ethereum (ETH 3.65%), traded 4.6% higher,…
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