24. February 2024

Bitcoin Price Falls Below $25K

• Bitcoin’s 24-hour price chart has retreated to below $25,000 after reaching a nine-month high of about $26,500.
• Altcoins have rallied with stacks (STX) leading the pack, up 36% over the past 24 hours.
• Binance.US has proposed buying assets of bankrupt crypto lender Voyager Digital for $1 billion but this is being disputed by the U.S. government.

Price Retreats After Inflation Data

Bitcoin’s 24-hour price chart has seen a retreat to below $25,000 after reaching a nine-month high at around $26,500 minutes after the release of the US Consumer Price Index showed that the rate of inflation is slowing down. Several altcoins are also rallying, with stacks (STX) taking the lead with a 36% increase in its value over the past 24 hours and IMX token for Immutable X surging 30%.

Binance US Deal Put On Hold

The proposed acquisition by Binance.US of assets from bankrupt crypto lender Voyager Digital for an estimated worth of $1 billion has been put on hold following an appeal from the U.S. Trustee, part of Department of Justice responsible for bankruptcy cases objecting to it on grounds that it would absolve Voyager and its staff from any criminal liabilities or proceedings involving their activities whilst running the business prior to filing bankruptcy papers.

Franklin Templeton Developing Crypto Investment Products During Bear Market

President and CEO Jenny Johnson of Franklin Templeton is developing crypto-linked investment products during this bear market while taking into consideration her client’s sentiment about cryptocurrencies in general and their expectations about potential returns from such investments in particular.

CoinDesk Markets Team Reporters Discuss Cryptocurrency Markets

CoinDesk Markets reporters Lyllah Ledesma and Omkar Godbole discuss bitcoin price movements over time as well as other developments related to cryptocurrency markets such as altcoin rallies and proposed acquisitions by Binance US among other topics related to cryptocurrency investing and trading opportunities available in today’s markets.