Bitcoin rises above $18,000 after FTX lawyers find $5 billion in assets

The price of bitcoin rose to its highest level in nearly a month today (Jan. 12) as investors anticipated a slowdown in U.S. inflation and braced for news that lawyers for the bankrupt cryptocurrency exchange FTX are uncovering billions of dollars in assets, creating hope for FTX users.

According to CoinMetrics, the price of Bitcoin broke through $18,000 for the first time since Dec. 14 on Monday (Jan. 11), rising about 5% in just 24 hours. After that, Bitcoin moved at $18,164.80.

Information from FTX’s lawyers that the company has recently discovered about $5 billion in assets. These include cash and digital assets.

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