Stephen Alpher
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Crypto climbs into the U.S. close as stocks rebound from worst levels
Down nearly 2% at its session low, the Nasdaq narrowed that loss to 0.7% by the day’s close. The S&P 500 closed down just 0.15%, and the Dow Jones Industrial Average managed a small gain.
The bounce in traditional markets boosted crypto, with bitcoin (BTC) climbing more than 1% from the day’s low to $80,800.
Most crypto-related stocks still closed sharply lower, but a few names managed to move into the green, led by Hut 8’s (HUT) 4.5% gain. IREN (IREN) rose 1.8%, Fold (FOLD) added 3.4%, and Figure (FIGR) was 2.5% higher.
A number of central bank speakers will be heard from tomorrow following today’s disappointing U.S. inflation report. Among them will be Minneapolis Fed President Neel Kashkari and the ECB’s Christine Lagarde.
