Crypto rises for a second day after U.S. inflation data comes in as expected, bitcoin briefly tops $26,000
Publishing timestamp: 2023-03-14 16:27:13
Summary
Bitcoin and Ether have jumped in value, with Bitcoin up 22% since Friday and Ether up 19.2%. The rise is attributed to a repricing of Fed expectations and recent stress around vulnerabilities in the US banking system. The recent inflation data also played a role in the rise. Cryptocurrency prices have recovered since US regulators backstopped depositors of Silicon Valley Bank and Signature Bank, leading some investors to speculate that the Fed would be less aggressive in raising interest rates.
Sentiment: POSITIVE
Keywords: business news, technology, cryptocurrency, bitcoin/usd coin metrics, investment strategy, ethereum/usd coin metrics, markets,