Crypto Prices Set To Move Higher After US Progress on Trade
Key takeaway:
The cryptocurrency market responded positively to Wednesday’s Consumer Price Index (CPI) report and reduced prospects of an escalating trade war between the US and China. Demand for alternative hedge instruments typically weakens in such scenarios, yet Bitcoin (BTC) neared $109,000, while Ether (ETH) posted a 3% gain, trading above $2,800.
While it’s too early to call it a trend, the crypto market appeared to slightly diverge from traditional assets. The S&P 500 index gave back part of its earlier gains, which had initially been driven by US President Donald Trump’s announcement of a new trade agreement with China.
According to the…
