Bitcoin Jumps Past $25K for First Time Since June 2022

Bitcoin rocketed past $25,000 for the first time since June, before quickly retreating below the threshold, according to CoinDesk data.

The largest cryptocurrency by market cap was recently trading at about $24,750, up more than 8% over the past 24 hours. BTC had been lingering below $22,000 as recently as Tuesday before it begain to surge as investors shrugged off the latest tepid inflation data and a regulatory crackdown on stablecoins.

This is a developing story.