Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$118,878.00
1.49%$3,735.18
0.91%$3.51
0.78%$799.08
5.77%$202.08
1.69%$0.99985
0.00%$0.26603
1.77%$3,720.35
1.07%$0.887824
1.61%$0.317481
2.48%$118,719.00
1.59%$45.04
2.46%$0.470963
2.89%$4,494.95
0.57%$3.97
1.05%$19.67
1.88%$4,009.06
0.86%$0.271149
2.14%$25.72
-0.04%$3,993.84
1.07%$528.00
1.95%$119.98
3.35%$0.00001525
1.40%$8.99
-0.01%$3,735.53
1.09%$3.30
1.69%$0.999822
-0.03%$4.53
3.37%$1.00
0.01%$1.001
-0.00%$118,838.00
1.28%$10.74
2.62%$44.60
0.89%$325.74
2.40%$0.00001407
0.67%$4.86
0.67%$306.87
-2.32%$449.05
3.02%$0.127402
4.88%$1.18
0.05%$3.03
3.27%$24.18
3.53%$0.474945
-4.03%$5.44
2.83%$1.12
6.16%$6.08
2.95%$245.74
1.45%$0.490884
-2.32%$49.93
3.35%$0.112716
0.19%$0.00003696
8.27%$0.0446707
21.79%$0.828634
4.34%$0.292916
1.40%$0.475371
1.76%$1.00
0.00%$1.34
11.81%$0.02783222
1.49%$4.56
2.89%$5.12
1.49%$0.25156
0.93%$3,729.64
0.48%$11.07
2.73%$1.00
-0.11%$18.07
3.93%$0.806626
-0.88%$0.351962
2.15%$214.86
2.85%$2.92
3.07%$4.50
-0.10%$131.70
3.01%$0.623622
-5.31%$1.99
6.69%$0.086129
-2.51%$1.06
0.01%$3,903.38
0.61%$4,248.66
0.54%$118,927.00
2.01%$0.02425148
15.43%$1.67
3.41%$5.22
0.91%$2.20
2.74%$0.095002
0.55%$12.09
-0.57%$15.14
0.55%$5.00
6.16%$0.00015216
8.00%$1.00
0.04%$0.998556
0.18%$3,926.78
0.65%$0.885103
3.46%$0.7965
3.94%$1.006
6.85%$3,995.65
0.71%$1.00
0.09%$1.34
1.05%$4,029.46
0.50%$0.00378733
0.82%$1.00
-0.02%$1.27
2.61%$3,921.16
0.95%$1.91
2.09%$0.381959
-1.06%$118,723.00
2.07%$227.13
1.88%$0.636
2.38%$0.113074
1.36%$1.19
1.57%$0.179388
3.21%$796.28
5.07%$0.966199
-0.46%$0.999084
-0.11%$264.54
1.36%$0.02046168
8.37%$2.87
7.51%$0.985769
4.85%$29.09
8.01%$3,423.32
0.93%$0.609875
3.47%$118,652.00
1.39%$119,305.00
0.55%$1.11
0.02%$0.02013196
2.51%$0.343152
16.77%$3.37
-1.48%$0.228937
-0.26%$0.999602
0.00%$0.167563
-19.85%$3,415.43
0.90%$0.145252
0.01%$0.339592
1.88%$0.963602
0.16%$3,734.28
0.89%$10.01
-2.14%$4.81
9.07%$3,999.83
0.82%$3,899.68
0.18%$2.17
-2.65%$3,717.13
0.53%$0.00000072
-0.02%$0.444873
2.80%$44.13
2.39%$111.89
0.01%$3.79
0.44%$1.093
-0.08%$0.265208
1.30%$0.353182
2.88%$0.999455
-0.02%$0.404562
5.50%$118,778.00
1.80%$0.479927
4.00%$0.00000169
11.68%$0.999732
-0.00%$3,735.41
0.72%$0.065303
3.92%$2.00
1.46%$0.01852918
-3.91%$0.00678849
4.30%$0.00880041
1.75%$30.39
1.42%$0.600119
1.09%$0.997653
-0.00%$3,968.07
0.62%$0.727588
0.02%$1.64
0.60%$0.00975619
4.28%$119,159.00
1.52%$0.550881
4.34%$118,381.00
1.18%$45.11
2.67%$0.454126
-2.86%$3,735.72
0.73%$4,119.74
0.89%$8.19
0.36%$0.999826
-0.00%$1.27
0.15%$1.001
0.09%$0.073776
0.60%$0.147239
-0.25%$0.691285
2.97%$18.25
5.62%$7.35
2.31%$53.34
3.33%$0.99914
-0.22%$4,031.71
0.99%$0.194367
0.32%$0.0000241
1.58%$1.16
0.00%$0.183755
-0.45%$2.87
3.32%$0.437482
2.12%$1.48
-0.26%$0.42967
-0.20%$0.00893599
4.96%$1.015
15.21%$4,505.37
0.63%$0.00000046
1.14%$0.461231
5.74%$3,728.82
0.22%$0.04601829
2.43%$0.061416
0.73%$0.210497
-0.75%$0.313067
2.35%$0.09304
-2.08%$221.07
1.36%$3,733.89
0.91%$44.87
2.69%$7.42
0.52%$0.999817
0.00%$10.76
0.03%$1.003
-0.09%$1.095
0.07%$0.607814
2.90%$0.993639
-0.57%$1.47
-0.30%$0.00402648
0.39%$31.23
-0.82%$0.399971
3.37%$25.68
-0.20%$150.30
0.24%$13.44
4.25%$1.63
-3.22%$4.78
11.27%$0.590528
0.79%$0.999914
0.01%$0.00006893
0.80%$0.832704
6.92%$0.850657
-0.16%$0.03861361
2.69%$0.00549309
-0.08%$0.03486818
3.91%$0.00414355
-0.56%$0.251122
0.98%$0.01895447
1.44%$118,266.00
1.19%$22.06
0.19%$0.00426291
0.85%$0.866799
0.60%$118,738.00
1.40%$0.8337
0.47%$0.00402562
-3.11%$0.343917
27.41%$228.16
1.51%$1.13
-0.27%$0.331375
2.26%$3.71
5.34%$3,911.63
0.40%$7.67
2.25%Reading
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 BitcoinBitcoin (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.
The price of Bitcoin dropped sharply following the Federal Reserve’s announcement that it would hike interest rates by 75 basis points to combat sky-high inflation. The biggest cryptocurrency by market cap dropped below $19,000 following the announcement before rebounding amid widespread market volatility. It’s now trading at roughly $19,039, down around 1% over the last hour. Bitcoin is also down approximately 5.7% in the past seven days. Market analysts had expected the Fed to raise interest...
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.
Tesla’s long-awaited retro-style diner finally opened over the weekend in Los Angeles, and yes, there’s rollerskating waitstaff, rooftop seating, and a humanoid robot handing out popcorn. No, you can’t pay in Dogecoin, yet. Located near the iconic Paramount Studios, the two-story fever dream sits atop a Supercharger hub with 80 EV-only parking spaces. Part midcentury nostalgia trip, part Muskovite experiment, the diner has seating for 250 people and features two, drive-in-movie-sized LED screens...
SpaceX has moved $153 million of its Bitcoin holdings, marking its first blockchain activity in three years, according to on-chain data provider Arkham Intelligence. The aerospace company moved 1,308 BTC tokens from 16 Pay-to-Public-Key-Hash addresses to a sole SegWit-compatible Pay-to-Witness-Public-Key-Hash wallet address, the data shows. SpaceX currently has 8,285 Bitcoin, or $988.89 million worth of the token, on its balance sheet, according to data from bitcointreasuries.net. SpaceX last m...
Western Union has become the latest financial giant to signal interest in stablecoins, as competition heats up in the global remittance market and regulatory clarity improves. Speaking to Bloomberg on Tuesday, CEO Devin McGranahan said the firm saw three opportunities for stablecoin use around faster cross-border payments, better fiat conversion options in harder-to-reach markets, and offering a store-of-value product for customers in countries with weaker currencies. “We see stablecoins really...