Posted 1/17/2024, 12:56:00 PM
Altcoins Outpace Bitcoin as FTX Seeks Funds and Dollar Rises
- Altcoins outperformed bitcoin, with Chainlink's LINK token climbing 6% and Render's RNDR token up 12%
- Bitcoin remained around $42,700, with contrarian bets about further price drops being proven wrong
- FTX sought to recover millions from Sam Bankman-Fried's parents, but they argued no fiduciary duty to FTX
- The US dollar index rose to a 4-week high, offering bearish signs for stocks and bitcoin
- Bitcoin's Q4 rally coincided with dollar downtrend; the two may continue to trade inversely