Bitcoin surged 5 percent in a 24-hour period on Wednesday to $28,474 despite recent regulatory pressures. Ether rose nearly 6 percent to $1,816.10. After a turbulent 2022 that saw the collapse of major cryptocurrency exchanges and a steep decline in values, Bitcoin rebounded in 2023, with prices steadily climbing. U.S. regulators have been cracking down on cryptocurrency firms in recent weeks. The U.S. Commodity Futures Trading Commission FTC’s lawsuit against Binance and the Securities and Exchange Commission has threatened to take legal action against Coinbase for alleged violations of securities rules.