The prices of both traditional assets and cryptocurrencies experienced a
decline subsequent to the release of U.S. data indicating continued inflation.
At 8:45 a.m. EST, Bitcoin had depreciated by approximately 1.5% to $23,785,
while ether exhibited a decline of about 1% to approximately $1,639.
Recent data for the previous month showed an increase of 0.6% in the
personal consumer expenditures price index, with a revision upwards for
December. According to Investing.com, the anticipated increase in the core
index was 0.4%.
Before the market opened, pre-market trading indicated declines of over
1% for both S&P 500 and NASDAQ futures. Furthermore, stocks connected to
cryptocurrency such as Coinbase and Silvergate were also trading lower.
However, Block, despite experiencing setbacks due to bitcoin, reported
profits and revenue that exceeded expectations for the fourth quarter,
resulting in a 5% increase before the market opened.
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