Beautiful Virgin Islands

Monday, Oct 20, 2025

Bitcoin jumps above $19,000 to highest level since November on cooling U.S. inflation

Bitcoin jumps above $19,000 to highest level since November on cooling U.S. inflation

Bitcoin on Thursday surged to its highest price in more than two months, as traders bet on a U.S. inflation cooldown and digested news that lawyers for defunct crypto exchange FTX have found billions of dollars worth of assets.
The world’s largest digital currency by market cap climbed above $19,000 for the first time since Nov. 8, increasing in value by 8.4%. Bitcoin last traded at $19,013.30, according to CoinMetrics.

U.S. inflation data out Thursday showed a modest retreat. The consumer price index decreased 0.1% in December on a monthly basis, in line with Dow Jones estimates.

Prices still increased 6.5% year-over-year, however. This was down from a 7.1% jump in November and well off a 9.1% peak rate in June. Investors hope the decline may put pressure on the U.S. Federal Reserve to reverse interest rate increases.

The Fed and other central banks have been raising interest rates over the past year or so in an effort to tame soaring inflation, in moves that forced stocks and cryptocurrencies sharply lower in 2022.

The hope now is that the U.S. central bank will cut rates, taking some pressure off risk assets.

Elsewhere, attorneys for collapsed crypto exchange FTX said Wednesday they had found around $5 billion in “liquid” assets, including cash and digital assets. The recovery will be a welcome boon to FTX customers after the crypto exchange imploded in November.

FTX lawyers nevertheless warned the $5 billion cache was so high that selling the assets could lead to significant downside pressure on the market, driving down their value.

Bitcoin is down about 74% from its November 2021 all-time high of $68,990. Last year, nearly $1.4 trillion of value was wiped off the cryptocurrency market, as traders dumped risky assets like technology and growth stocks.

Bitcoin and the broader digital currency market also slumped, suggesting increasing correlation with major stock benchmarks like the Nasdaq Composite.

The plunge was also caused by crypto-specific issues, including the collapses of projects and companies like FTX and Terra.

Bitcoin has however started 2023 on positive footing, with its price rising steadily over the last 12 days.

“Bitcoin has been in a downtrend for over a year now, which is a standard period of a bear market in crypto,” Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, told CNBC in emailed comments Thursday morning.

“We’ve had many negative events transpire over the past year, and if one looks at the price reaction to those events, in general it’s been declining less and less — an indication that the market is accepting the news quite well, sell pressure is being absorbed, and hence we’re moving to an accumulation stage,” Ayyar added.

“This could also mean that the market thinks the worst is over for crypto and that most negative news in now priced in.”

Other digital currencies were buoyed by the jump in bitcoin prices Thursday. Ether, the second-largest coin, rose almost 5% to $1,397.78 while Binance’s BNB token rose 3% to $283.

Changpeng Zhao, the CEO of Binance, told CNBC Wednesday that the exchange plans to increase hiring by 15% to 30% in 2023, in stark contrast with other exchanges that have cut jobs.

Binance, which earlier earmarked $1 billion for a fund aimed at propping up the industry after the collapse of FTX, has itself been beset by fears over the soundness of its reserves. The auditor working on the company’s so-called proof of reserves, Mazars, paused all work with crypto companies in December.

Binance says it has more than enough assets to cover liabilities.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
Surging AI Startup Valuations Fuel Bubble Concerns Among Top Investors
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
Dutch Government Seizes Chipmaker After U.S. Presses for Removal of Chinese CEO
Bessent Accuses China of Dragging Down Global Economy Amid New Trade Curbs
U.S. Revokes Visas of Foreign Nationals Who ‘Celebrated’ Charlie Kirk’s Assassination
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
DJI Loses Appeal to Remove Pentagon’s ‘Chinese Military Company’ Label
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Australian Prime Minister’s Private Number Exposed Through AI Contact Scraper
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
China’s lesson for the US: it takes more than chips to win the AI race
Australia Faces Demographic Risk as Fertility Falls to Record Low
×