Cryptocurrency Market Resumes Uptrend as Bitcoin Price Surges Higher

The cryptocurrency market resumed its uptrend on Wednesday afternoon as Bitcoin's price surged higher, pulling the rest of the crypto market along for the ride as traders grow increasingly optimistic about the fledgling bull market. Stocks got off to a hot start but saw the momentum wane as the day progressed despite the Producer Price Index dropping 0.5% in October, the largest decline since wholesale inflation dropped 1.2% in April 2020.

This further strengthened traders' assumption that the Federal Reserve will continue to pause interest rate hikes, and could potentially resort to lowering rates in early 2024. At the closing bell, the S&P, Dow, and Nasdaq all managed to finish in the green, up 0.16%, 0.47%, and 0.07%, respectively. Data provided by TradingView shows that Bitcoin bulls started to push the price action in the early hours on Wednesday, lifting the top crypto back above $36,000 by midday before an afternoon stampede drove it to a daily high of $37,887

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Mixed Market Reactions in Asia, Philippine GDP Growth, Aboriginal Water Market Lockout, and MoreThis news article covers various topics including the mixed market reactions in Asia, the expected growth of Philippine GDP, the lockout of Aboriginal people from Australia's water market, Colombia's request to overturn the fiscal rule, China's slowdown affecting Japanese beauty stocks, talks between the US and global gas heavyweights on emission tracking, the potential sale of QuidelOrtho's transfusion medicine unit, Byron Allen's interest in Scripps TV stations, troops entering a Gaza hospital in Israel causing frustration in the US, Ottawa extending the deadline for underused housing tax, the gender gap in salary negotiations, and the financial stress faced by many Canadians.
Sumber: BNNBloomberg - 🏆 83. / 50 Baca lebih lajut »

Bitcoin Plunges in Deeper Correction as Stocks Surge on Fed Rate Hike SpeculationThe deeper correction that analysts had been warning about hit the crypto market on Tuesday as Bitcoin (BTC) underwent a selloff that briefly erased all of its gains over the past week before dip buyers arrived to push it back above support at $35,500.
Sumber: KitcoNewsNOW - 🏆 13. / 78 Baca lebih lajut »

Chinese Manufacturers Threaten North American Auto IndustryThe president of the Automotive Parts Manufacturers’ Association warns that Chinese manufacturers are making strategic moves to displace market-driven industry players in the North American auto market.
Sumber: AutoNewsCanada - 🏆 77. / 51 Baca lebih lajut »