Stocks falter as Bitcoin spikes to an eight-month high of $25,260

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Stocks, on the other hand, saw declines across the board as the extra time that investors have had to evaluate Tuesday’s hotter-than-expected CPI report and a more hawkish tone from Federal Reserve representatives drained the momentum out of the market. At the closing bell in the U.S., the S&P, Dow and Nasdaq all finished the day lower than they started, down 1.38%, 1.26% and 1.78%, respectively.

Cryptocurrency market analyst Rekt Capital highlighted a positive development on the Bitcoin chart as the top crypto looks poised to break out of the macro downtrend that it has been stuck in since late 2022. — Rekt Capital February 16, 2023 “Break it and BTC will confirm entry into a new Bull Market,” Rekt Capital said in a follow-up tweet.

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