{"id":17200,"date":"2023-06-02T09:19:27","date_gmt":"2023-06-02T13:19:27","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/bitcoin-climbs-as-cryptos-regain-ground-sector-lifted-by-debt-deal-progress\/"},"modified":"2023-06-02T09:19:28","modified_gmt":"2023-06-02T13:19:28","slug":"bitcoin-climbs-as-cryptos-regain-ground-sector-lifted-by-debt-deal-progress","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17200","title":{"rendered":"Bitcoin Climbs as Cryptos Regain Ground. Sector Lifted by Debt-Deal Progress."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000661748\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Bitcoin and other cryptocurrencies were largely up early on Friday, regaining some ground lost during the week. They were rising alongside other risk assets, with market attention on the U.S. jobs report and its implications for the Federal Reserve\u2019s monetary policy.\u00a0<\/p>\n<p>\n        Bitcoin<br \/>\n       was up 0.9% over the previous 24 hours to $27,119. The largest cryptocurrency briefly dropped well below $27,000 overnight before regaining its footing, but remains within the relatively tight band established in May after falling back from the level of above $30,000.\u00a0<\/p>\n<div class=\"paywall\">\n<p>\u201cDuring the past few weeks, digital assets have been treading water. The total market capitalization of the asset class has been hovering around $1.2 trillion as regulatory developments in the United States continued to dominate the headlines,\u201d wrote Carsten Menke, of Swiss bank Julius Baer, in a research note.\u00a0<\/p>\n<p>The next catalyst is likely to be the Fed\u2019s June rate decision. Inflation-fighting rate hikes have been a drag on crypto, hitting risk assets. Traders are largely pricing in a pause in rate increases at the June meeting.\u00a0<\/p>\n<p>\u201c[The macro environment seems to be improving with the resolution of the debt ceiling issue and the possibility for a rate hike pause, but Bitcoin is still not out of the woods yet as Friday\u2019s U.S. jobs report could reignite a sense of caution for another rate hike,\u201d said Yuya Hasegawa, an analyst at Japanese crypto exchange Bitbank. <\/p>\n<p>Beyond Bitcoin, Ether\u2014the second-largest crypto\u2014was up 1.6% to $1,886. Smaller cryptos, or altcoins, were also climbing, with Cardano up 2.1% and Polygon rising 1.4%.<br \/>\n        Dogecoin<br \/>\n       gained 0.8%.<\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/bitcoin-price-crypto-ether-whats-happening-b4259e11?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and other cryptocurrencies were largely up early on Friday, regaining some ground lost during the week. They were rising alongside other risk assets, with market attention on the U.S. jobs report and its implications for the Federal Reserve\u2019s monetary policy.\u00a0 Bitcoin was up 0.9% over the previous 24 hours to $27,119. The largest cryptocurrency [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-17200","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Climbs as Cryptos Regain Ground. Sector Lifted by Debt-Deal Progress. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies were largely up early on Friday, regaining some ground lost during the week. 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