the stock market climbed on Tuesday after Jerome Powell, the chair of the Federal Reserve, reassured investors the Fed will combat the current high inflation, signaling the central bank may reduce its balance sheet this year.like a risk asset recently.
after the CPI data release. While some crypto traders and investors view bitcoin as a hedge against inflation, others consider it as a risk asset like stocks, which react to tightened monetary policy resulting from high inflation. On intraday charts, upside momentum is improving, which suggests buyers could remain active into the Asia trading day.
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MuyaoShen JPRubin23 Bitcoin up 2% on the day after a blood-letting over the past two months. Not much of a 'surge' I'd suggest...
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