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23.12 - 11:27
Cryptocurrencies rally after a wave of bullish news nudges investors to buy the dip
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Cryptocurrencies rallied on Wednesday, with bitcoin edging back towards $50,000, as investors delved back into the market after some of the price weakness caused by caution around the outcome of the Federal Reserve's policy meeting.
Bitcoin was last up 2.3% to around $48,311 on Wednesday at 06:25 am ET, while ether climbed 1.6%, according to CoinGecko. Dogecoin eased 6%, but still held close to its highest since the start of December, after Tuesday's 30% rally in the wake of Tesla chief executive Elon Musk saying his company would start accepting payment in the meme cryptocurrency for some merchandise.
Over the last week however, the crypto market has been under pressure. Bitcoin has lost 4.4%, while ether has lost 10%
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