While concerns about a regulatory crackdown in the United States have subsided slightly, bitcoin soared by more than 9% on Wednesday, February 15, 2023 to trade at its highest level since August.

Bitcoin traded up to $24,364 according to CoinDesk data. But it's still down 65% from its all-time high of nearly $70,000 in November 2021. Indeed, after the collapse of several major companies last year, US regulators have strengthened their oversight of the crypto industry. According to Edward Moya , an analyst at Oanda, Wednesday's crypto rally could come from a “small sigh of relief” as stablecoin issuer Circle denied the rumors according to from which the company would have received a Wells notice from the concerning

According to Moya at MarketWatch by, “some traders are still convinced that regulation won't destroy stable coins and that could mean that the worst part of the crypto winter is over.” In America, stocks ended a hectic session with gains last Wednesday. The Nasdaq Composite COMP jumped 0.9%, the Dow Jones Industrial Average DJIA finished with a gain of around 39 points, or 0.1%, and the S&P 500 SPX added 0.3%.