Price Point: Bitcoin is on track for its best month since October as a busy week for U.S. economic news ends with a fresh inflation surprise.
Market Moves: Ethereum classic (ETC), a cryptocurrency that's been little more than an afterthought since the same-named protocol forked off the Ethereum blockchain in 2016, was one of the best performers in digital-asset markets in July.
Bitcoin (BTC) held steady even as fresh U.S. economic data showed the Federal Reserve's preferred measure of inflation rose by more than expected in June.
The core personal consumption price index (core PCE) came in at 0.6% month on month, exceeding estimates for a 0.5% rise and accelerating from May's 0.3% jump. The pace over the past 12 months was 4.8%, compared with expectations for a rate of 4.7%. The employment cost index rose 1.3% in the second quarter, versus the expected 1.2%.
While the data pointed to sticky inflation, the news barely impacted the dollar or U.S. Treasury yields, perhaps because...
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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...