Bitcoin (BTC) Weathers Global Market Slump Sparked by Inflation Jump

Bitcoin climbed past $52,000 in a broad cryptocurrency rally that saw Ether, the second-biggest token, advance back to where it was before the TerraUSD stablecoin collapsed almost two years ago.

Bitcoin’s 22% year-to-date gain pushed its market capitalization above $1 trillion for the first time since December 2021, data from CoinGecko show. Ether rose 5% as of 9:39 a.m. in New York on Wednesday, and altcoins like Avalanche, Polkadot and Polygon also climbed.