Bitcoin and the cryptocurrency market reacted positively to the growth of Nasdaq Composite

The Nasdaq Composite jumped 7.35% on November 10.
After the U.S. Bureau of Labor Statistics reported that annual inflation in the U.S. economy slowed to 7.7% in October, the stock market in New York experienced a very strong rebound, with the Nasdaq Composite jumping 7.35% on November 10. Traders view the incoming data as the basis for a slowdown in the U.S. Federal Reserve’s interest rate hike.
The cryptocurrency market reacted by moving in the same direction as Wall Street, resulting in the price of bitcoin jumping from $16,500 to $17,500 in a couple of hours, which is a thousand dollars, before correcting in its rise to $17,33 thousand, which is seen in the first half of November 11. Ethereum rose 1.2 to $1,273,000, subcutting its rise to $1,269,000 early Friday.
Total cryptocurrency market capitalization is up 4.7% overnight, to $872.19 billion. Investor interest in altcoins is high, which shows a slight dominance of bitcoin in the market (38.2%).
Curiously, the token crypto exchange, FTT, is showing a 21.6% rebound to $3.2 in the last 24 hours amid reports that the site’s management is in talks with investors about possible financial support, whose required amount is currently estimated at $9 billion.
Meanwhile, the Bahamas Securities Commission, where FTX Digital Markets Ltd. was based, stated that suspends the registration of the legal entity, as well as “freeze” its assets and appoint a bankruptcy trustee. Also, the Financial Services Agency in Tokyo has adopted solution to suspend operations of the Japanese division of until December 9 this year.

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