The new year has not been kind to cryptocurrencies, which rose on Wednesday despite about a week of selling that briefly drove Bitcoin below $40,000.
A jittery market has begun 2022 on a sour note, with a suddenly hawkish Federal Reserve and the Omicron wave of COVID-19 infections making investors risk-averse. Meanwhile, Bitcoin set a new low at $39,893.62 — having swooned by more than 40% since its November peak.
Bitcoin has shed over 8% at its weakest levels this week, while smaller tokens…
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