First Mover: As Wall Street Fixates on Inflation Hedges, Good Luck Finding Bitcoin
Jovan Cruster
Market
3 years ago
1 QCP
Bitcoin (BTC) was lower, after an intraday price spike on Tuesday took the largest cryptocurrency to a new all-time high of $48,226.25, based CoinDesk 20 data.
$50K in sight: “Bitcoin needs a couple more big endorsements, and that could be the key to take prices above the $50,000 level,” Edward Moya, senior market analyst for the foreign-exchange broker Oanda, wrote Tuesday.
Inflation watch: European shares and U.S. stock futures were higher as Bloomberg News reported that “inflation has quickly become the biggest issue in markets on speculation the Federal Reserve will let the economy run hot out of the pandemic.” The U.S. Labor Department’s Bureau of Labor Statistics reported Wednesday in its monthly CPI report that the consumer price index rose 0.3% in January, for a 1.4% increase over the past 12 months. The headline reading was in line with economists’ expectations.
https://www.coindesk.com/first-mover-good-luck-finding-bitcoin
$50K in sight: “Bitcoin needs a couple more big endorsements, and that could be the key to take prices above the $50,000 level,” Edward Moya, senior market analyst for the foreign-exchange broker Oanda, wrote Tuesday.
Inflation watch: European shares and U.S. stock futures were higher as Bloomberg News reported that “inflation has quickly become the biggest issue in markets on speculation the Federal Reserve will let the economy run hot out of the pandemic.” The U.S. Labor Department’s Bureau of Labor Statistics reported Wednesday in its monthly CPI report that the consumer price index rose 0.3% in January, for a 1.4% increase over the past 12 months. The headline reading was in line with economists’ expectations.
https://www.coindesk.com/first-mover-good-luck-finding-bitcoin
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