Federal Reserve Chairman Jerome Powell’s remarks that the central bank is beginning to get inflation under control sparked a mini rally in the price of Bitcoin, though Powell cautioned that the process is going to be time-consuming and challenging. And institutional investors are continuing to put their money in crypto despite the battering the market received in 2022. In another sign of renewed optimism in the crypto space, million-dollar NFT sales are back on, with both CryptoPunks and Bored Ape Yacht Club NFTs selling for seven-figure sums. Meanwhile, Bitcoin mining firms Hut 8 and U.S. Bitcoin are set to merge into a North American crypto mining giant.
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