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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.
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