This report is from today's CNBC Daily Open, an international markets newsletter. It highlights how core inflation rose 0.3% in a month and 2.8% annually, higher than the previous month's 2.7%. Bitcoin's price movement was contrary to U.S. indexes, falling on Wednesday, but Galaxy Digital's Alex Thorn believes the bull market for bitcoin has legs. The financial sector has been the best-performing group this year, with traders taking profits from Big Tech stocks before a holiday weekend.
Despite a small rise in inflation, investors remain unfazed, with a 64.7% chance of the Federal Reserve lowering rates by 25 basis points in December
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Decouples From Tech Stocks, Continues Record Hitting Bull Run Post-ElectionBitcoin has seen a notable divergence from tech stocks as it continues to climb post-election, with gains of about 38% since November 5. The cryptocurrency's recent decoupling from the tech-heavy Nasdaq, which witnessed a decline of 1%, highlights its resilience amidst market volatility. Bitcoin's price reached a near $100,000 milestone before settling around the $90,000 level this week. Analysts suggest that despite potential regulatory actions from the outgoing administration, the bull market for bitcoin has staying power.
Source: nbcsandiego - 🏆 524. / 51 Read more »
Bitcoin Surges Despite Nasdaq Dip, Signals Ongoing Bull MarketBitcoin has seen significant gains since the Nov. 5 presidential election, reaching nearly $100,000. Despite the Nasdaq Composite and other major indices declining, bitcoin showed resilience, suggesting an ongoing bull market. Experts predict continued growth with potential regulatory challenges ahead.
Source: NBCNewYork - 🏆 270. / 63 Read more »
Bitcoin (BTC) Bull Market Is Far From Over, Galaxy SaysThe bitcoin bull market has legs for a number of reasons, including increasing corporate and institutional adoption, Galaxy Research said.
Source: CoinDesk - 🏆 291. / 63 Read more »
Bitcoin Likely to Enter New Bull Market If This Happens: CryptoQuantCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Bitcoin Dumped by $6K Daily But These On-Chain Metrics Suggest Bull Market Is Still OnCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »
'We're in a Bull Market': CryptoQuant CEO on Epic Bitcoin Sell-offDespite corrections, CryptoQuant CEO Ki Young Ju said market is in bull cycle
Source: Utoday_en - 🏆 295. / 63 Read more »