Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$62,477.00
4.83%$2,433.13
6.24%$556.50
3.32%$139.18
8.30%$1.00
0.00%$0.583598
2.10%$2,432.09
6.32%$0.104622
4.75%$5.75
4.99%$0.150557
0.55%$0.348695
5.78%$26.26
13.56%$2,873.40
6.78%$62,408.00
4.86%$0.00001419
8.33%$2,430.20
6.39%$347.77
12.17%$11.24
8.29%$4.21
3.85%$5.57
-2.65%$6.81
4.52%$4.50
13.14%$65.27
2.84%$0.172096
2.22%$2,544.02
6.26%$8.19
6.24%$1.52
15.24%$1.34
14.99%$0.0000079
9.87%$6.41
10.73%$172.12
0.90%$0.999857
0.27%$0.396867
5.89%$0.095506
2.29%$379.27
20.62%$18.58
5.77%$0.999533
0.06%$1.69
12.77%$39.18
3.63%$1.45
7.82%$0.081686
3.94%$146.12
7.67%$3.67
8.21%$20.78
12.07%$5.16
11.19%$0.548176
8.03%$0.59059
5.52%$0.051888
6.62%$1.57
10.37%$0.02225488
5.94%$0.640636
14.04%$4.48
8.31%$1.70
14.06%$10.98
0.66%$4.44
12.63%$2,435.68
6.38%$0.15134
11.71%$1.40
11.24%$1,551.28
7.01%$6.33
21.95%$2,720.22
6.38%$20.27
13.07%$0.942888
2.57%$62,299.00
4.70%$0.00013351
10.09%$2,536.70
6.26%$7.20
9.86%$0.00001741
8.05%$0.396612
5.28%$0.332032
24.27%$0.306104
6.74%$0.13056
8.33%$0.791678
10.50%$8.32
2.68%$73.00
3.52%$0.0207051
8.27%$48.90
7.18%$1.12
6.14%$0.651241
10.43%$1.041
8.49%$2,476.99
6.18%$0.97848
6.18%$2,432.06
6.35%$7.36
-2.96%$0.888181
30.82%$0.563357
7.63%$0.01686266
14.07%$0.00000089
2.47%$2,433.26
6.87%$0.01798243
0.90%$0.00784233
8.02%$0.08103
10.56%$0.134545
3.88%$2.35
-2.87%$0.498126
5.31%$0.01919604
7.14%$27.28
6.74%$9.30
3.07%$0.999678
0.16%$4.87
7.33%$0.99948
-0.24%$0.01485967
4.43%$1.59
9.06%$0.400648
7.91%$169.43
8.12%$9.68
7.16%$32.18
8.36%$0.669295
7.53%$0.149174
6.49%$2.63
7.72%$0.998302
0.16%$2,589.83
0.66%$0.00003225
7.12%$62,278.00
4.70%$0.0000003
6.50%$0.263445
6.65%$2,489.09
6.39%$0.232347
17.23%$0.941988
10.85%$17.84
8.56%$1.005
5.07%$1.56
7.36%$3.43
8.87%$0.468511
14.18%$2,430.32
6.25%$0.288048
6.42%$0.777857
5.15%$0.00097992
4.54%$0.055374
8.48%$2,625.56
6.40%$0.999579
0.00%$4.41
14.53%$2,590.70
0.39%$1.49
9.88%$0.780517
15.31%$0.00008528
6.80%$1.80
6.21%$31.70
6.76%$0.25032
11.96%$0.00536863
29.00%$8.24
9.99%$0.00669247
13.14%$13.37
10.97%$0.06396
6.75%$0.12374
11.99%$0.399547
7.01%$2,431.95
6.27%$0.129024
7.33%$2,419.92
5.69%$144.27
8.14%$0.553045
7.12%$0.063443
6.64%$0.936963
18.59%$0.388306
24.00%$0.02809013
0.22%$1.00
0.01%$0.061231
4.86%$0.00000041
1.25%$1.54
8.46%$0.99782
-0.36%$155.39
5.62%$8.67
11.85%$22.78
4.22%$1.92
18.66%$4.00
2.90%$44.33
7.04%$0.00000108
17.90%$2,432.91
6.37%$0.202621
14.89%$0.9049
2.77%$1.004
0.65%$0.03903019
16.34%$0.752775
3.52%$2,429.09
6.17%$0.054288
2.66%$0.00086222
5.50%$0.735468
4.07%$0.0050943
-0.18%$2.97
8.52%$0.509878
8.78%$2,664.59
6.32%$0.391654
9.78%$0.00662084
6.95%$1.055
-0.11%$0.815346
2.57%$0.282843
7.64%$0.00
-0.88%$62,381.00
4.72%$0.264687
11.16%$0.33207
0.44%$2,590.88
6.24%$0.647389
12.68%$62,569.00
4.58%$20.96
6.43%$0.175808
11.12%$0.130181
7.07%$0.063076
12.77%$1.13
11.84%$0.00382383
5.08%$0.00172558
8.36%$24.98
7.08%$0.297671
-1.71%$2,523.29
6.23%$0.765162
10.31%$0.286498
6.76%$2.24
7.41%$79.90
4.33%$0.01057551
7.48%$2.19
10.81%$0.692227
18.57%$1.90
-1.36%$0.02787516
0.46%$0.02731251
9.91%$0.03751613
7.57%$1,253.70
4.39%$39.58
7.59%$0.151975
10.74%$0.179566
5.17%$0.390225
7.34%$0.00078202
2.83%$0.01402565
6.14%$0.365249
4.04%$0.481824
7.46%$6,518.77
0.24%$0.305302
9.03%$1.47
10.58%$0.148912
9.78%$0.233463
8.51%$0.00253348
11.00%$0.00438608
5.79%$62,377.00
4.66%$15.47
1.42%$0.01739482
6.19%$2.43
23.22%$2.33
5.23%$6.05
3.98%$0.106299
36.09%$0.02465307
5.36%$0.05952
6.82%$1.00
0.03%$24.47
8.61%$0.00003431
0.60%$0.083164
3.96%$108.04
0.01%$0.02125089
4.83%$0.02268851
7.31%$0.659868
16.00%$2.23
4.05%Bitcoin’s price barely moved Wednesday as traders awaited important inflation data due to be released Thursday.
The biggest cryptocurrency by market cap was trading for $19,142 at the time of writing—a minimal 24-hour increase of 0.7%.
Tomorrow, the U.S. Bureau of Labor Statistics will release the consumer price index (CPI), a report that measures price changes in a basket of common consumer goods and services. The index is used to estimate changes in the economy’s inflation rate.
Depending on the outlook, the CPI report could signal that the Federal Reserve will continue to aggressively hike up interest rates in an attempt to cool the economy and curb rising inflation.
JPMorgan said today that such a move could mean the stock market could continue to suffer—as it typically has done when the central bank has increased the cost of borrowing.
And when U.S. equities take a hit, so, typically, does Bitcoin (and the rest of the crypto market).
But despite the Dow Jones Industrial Average dropping 0.10%, or 28.34 points, to finish at 29,210.85, and the S&P 500 closing 11.81 points—0.3%—to 3,577.03, the cryptocurrency market seemed more stable.
Ethereum, the second largest digital asset, was up even more than Bitcoin, trading at $1,300, a 1.4% increase in the past day.
In fact, seven out of the ten biggest cryptocurrencies by market cap had all made gains at the time of writing.
Bitcoin and the wider crypto market has closely been related to the stock market this year. But in the past month, that correlation has weakened—albeit slightly—according to some experts who spoke to Decrypt.
Regardless of whether Bitcoin does decouple from the stock market, it is likely to be a volatile trading day as investors attempt to guess which way the winds will blow.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.