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BTC.CM=+649.17 (+3.00%)
ETH.CM=-6.85 (-0.39%)
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Bitcoin topped $22,000 as it continues a week-long rally ahead of U.S. inflation data and a highly anticipated Ethereum network upgrade.
The world’s largest cryptocurrency hit $22,341.50 at 9:45 p.m. ET Sunday before dipping slightly, according to CoinDesk data. Bitcoin was trading at $22,203 at around 4:03 a.m. ET on Monday.
After falling below $19,000 on Wednesday to its lowest level since June, bitcoin has since rallied around 17%.
This also comes off the back of a winning week last week for U.S. stocks. Bitcoin has been closely correlated to equity markets, particularly the Nasdaq, and often moves higher when the tech-heavy index rises.
Crypto investors are looking ahead to the August consumer price index report, scheduled to be released Tuesday, to see the direction inflation is headed which could give hints toward future policy moves by the U.S. Federal Reserve.
Crypto faces an unusual double whammy this...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...