Bitcoin topped $43,000 to lead a broad surge in crypto prices following Fed Reserve chair Jerome Powell's reassurances that the U.S. central bank would continue its vigorous efforts to combat rising inflation. Muyaoshen and JPRubin23 report
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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