According to a report from Investing.com, despite concerns over interest rates and the decreasing risk of MT Gox, the current price of Bitcoin remains stable at $68k.

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The value of Bitcoin increased marginally on Wednesday, but stayed within its current trading range due to concerns about inflation and interest rates in the U.S. This caused traders to be wary of investing in volatile assets like cryptocurrency.

Over the last 24 hours, Bitcoin saw a 1.5% increase and reached $68,826.3 at 01:00 ET (05:00 GMT). The value has remained between $60,000 and $70,000 for the last two months.

Mt Gox was observed to be moving their Bitcoin reserves, but there were no reports of any sales taking place.

The cryptocurrency Bitcoin was affected by the news that the now-defunct Mt Gox exchange had transferred approximately $9 billion worth of the currency this week, leading to speculation about a possible sell-off. However, subsequent reports revealed that there were no immediate intentions to sell, as the exchange is focused on repaying its debts.

Mark Karpeles, former CEO of Mt Gox, stated that the transfer of Bitcoins was probably for the purpose of distribution and not for immediate sale.

Mt Gox’s massive pool of tokens, if liquidated, could create significant selling pressure on Bitcoin.

Latest cryptocurrency prices: Secondary digital currencies making progress, concerns about interest rates restricting profits.

On Wednesday, a majority of alternative coins experienced small rises, including the second most valuable coin which went up by 0.8% to reach $3,864.29. This token stayed near its highest point in two months, thanks to advancements in gaining approval from the Securities and Exchange Commission for a fund that tracks its progress as a currency.

Other altcoins also experienced modest gains amid concerns over high interest rates and inflation. Ethereum rose 0.8%, while Cardano added 3.6%. Meme tokens like Dogecoin surged nearly 17%, and Shiba Inu added 2.6%.

This week’s primary concern is the inflation information, which will have an impact on the Federal Reserve’s choices regarding interest rates. Officials of the Fed have suggested that rates could potentially stay higher for a longer period of time, potentially having a detrimental effect on the cryptocurrency market.