Broader crypto markets were modestly lower late on Wednesday.
Approaching six-month lows earlier in the session, the price of bitcoin quickly jumped about 2% Friday afternoon to above $25,900 after the FASB approved what's seen as being a favorable accounting treatment for companies holding crypto on their balance sheets and ARK Invest submitted paperwork for a spot ether ETF.
Crypto was under pressure Friday morning after the ISM Services Index for August came in at a stronger than expected 54.5. That was up from 52.7 previously and ahead of economist forecasts for 52.5.
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