Cryptocurrencies Rebound as Investors Buy the Dip; Bitcoin Miner Closes Facility

Major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged over 4-8% as investors bought the recent dip. Over $648 million flowed into Bitcoin ETFs on Tuesday.

Bitcoin mining company Hut 8 closes facility in Canada due to challenging industry conditions.

Cryptocurrencies like Fetch.AI, Render Token, and Near Protocol saw 24 hour gains between 44-50%.

Stocks rebounded with the S&P 500 rising 0.51% and Nasdaq 0.58%. Fed Chair Jerome Powell indicated interest rates are likely at their peak.

Analysts predict $100k Bitcoin this cycle and advise not to sell during volatility. AI and big data crypto assets grew 30.7% in 24 hours per Santiment.