Major cryptocurrencies traded higher Wednesday night as global market capitalization surged 2.5% to $880 billion at 7:38 p.m. ET.
|dogecoin Doge/US Dollar||1.04%||6%||$0.08|
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Why it matters: Bitcoin When ethereum Stocks traded higher on Wednesday as investors waited for US of the Ministry of Labor Consumer Price Index (CPI) figures. It will be announced Thursday morning.
Economists expect CPI to reach 6.5% in December.
On Wednesday, the S&P 500 and Nasdaq closed 1.3% and 1.8% higher respectively. At the time of writing, US stock futures were seen trading flat.
“With no major positioning ahead of this CPI report, it may now be the calm before an inflationary storm. We are confident,” said Edward Moya, senior market analyst at OANDA.
“It may not be smooth sailing for prices to drop across the board in the December inflation report, as core prices may be a little higher a month ago,” Moya said. .
Analysts noted that cryptocurrencies are “slightly softening” as institutional investors remain cautious.
“If risk appetite remains unchanged after the inflation report, Bitcoin could rally again at $18,500 levels. It may fall.
Michael van de Poppe Bitcoin is holding the $17,300 level, he said. “It will likely continue to rise and it will depend on the CPI. Perhaps given the current outlook he will make a temporary correction around the CPI before continuing,” said the crypto trader. He said Bitcoin could reach $18,500 tomorrow if the CPI is beaten.
Separately, van de Poppe expressed optimism for Bitcoin this year. He said that “probably” in the next six months, Apexcoin could head for the $30,000 to $40,000 level, but most people are “not ready for it.”
santimento he said tether (USDT) said, “We continue to see growth as sharks and whales load up for their next market. [bull run]According to the Market Intelligence Platform, there are currently 21,459 addresses holding more than $100,000 in USDT, just 1% below the all-time high.
digital currency group (DCG) Owned grayscale According to the CEO of CryptoQuant, 21,000 BTC worth $379.07 million have been transferred as of this writing. Gi Young JooThe funds were moved with an on-chain realized loss of 60%.
“For security reasons, they may have switched to a new cold wallet.
Especially on Tuesday, the founder of the Gemini Exchange Cameron Winklevoss Called for the dismissal of the DCG CEO Barry Silbert sue for fraud.
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