Crypto Market Tentatively Upward as Bitcoin Climbs Back Above $40,000

Bitcoin climbed back above $40,000 this morning after sinking below $39,000 on Tuesday. Solana's SOL and Avalanche's AVAX led the broader market higher, gaining around 8.5% and 11.5% respectively. Cryptocurrency lender Nexo has filed an arbitration claim against the Republic of Bulgaria, seeking $3 billion in damages. A Donald Trump-labeled crypto wallet holds over $1 million of a TRUMP meme coin. The notional open interest in active bitcoin futures contracts on the Chicago Mercantile Exchange has dropped by nearly $1.5 billion since the launch of spot ETFs in the U.S.