Bitcoin steady as altcoins pop, aptos hits all-time high around $20

Bitcoin was treading water at around $23,000, while ether and altcoins traded higher. Equities were mixed, with Silvergate down and Coinbase higher.

Bitcoin was trading at $23,037 by 10:40 a.m. EST, up about 2.7% over the past 24 hours, according to TradingView data.

Ether rose 4.4% to around $1,604 by 10 a.m. EST. Cardano’s ADA was up 6.9%, and Polygon’s MATIC soared over 12% in the last 24 hours.

Aptos continued to benefit from the recent rally, trading up about 20%. APT reached a fresh all-time high of $19.92 earlier in the day.

Dog-themed memecoins bounced back after declining this week. Dogecoin and shiba inu were up 3.1% and 4.4%, respectively.

According to the advance estimate data from the U.S. Bureau of Economic Analysis, the U.S. economy grew by 2.9% between October and December, primarily driven by consumer and federal government spending.

source: bea.gov

Bitcoin’s price whipsawed following the news before recovering above $23,000.

Crypto stocks

Silvergate fell 2% to around $14 by 10:30 a.m., according to Nasdaq data, alongside Jack Dorsey’s Block, which also fell — shedding 0.6% to trade around $80.

MicroStrategy and Coinbase traded higher. Shares in the crypto exchange were up 2%, Michael Saylor’s MSTR added 0.2%.

Next Wednesday, the U.S. central bank is expected to increase interest rates by 25 basis points, which is likely to impact crypto-related stocks. The CME Group’s FedWatch tool shows a 99.8% likelihood of a 25 basis point increase, bringing the target rate to 4.50-4.75%.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: https://www.theblock.co/post/205862/bitcoin-steady-as-altcoins-pop-aptos-hits-all-time-high-around-20?utm_source=rss&utm_medium=rss