Bitcoin gains alongside stocks as US inflation edges closer towards Fed’s 2% target | Headlines | News | CoinMarketCap
07/26/2024 22:46![Bitcoin gains alongside stocks as US inflation edges closer towards Fed’s 2% target | Headlines | News | CoinMarketCap](https://www.tbstat.com/wp/uploads/2022/11/20221116_Market_Generic3-800x450.jpg)
The cryptocurrency market posted an uptick today, with major tokens in the green, a trajectory that mirrored positive moves in U.S. equity …
The cryptocurrency market posted an uptick today, with major tokens in the green, a trajectory that mirrored positive moves in U.S. equity markets.
The rally comes amid a cooler inflation reading from one of the U.S. Federal Reserve's key data gauges. According to the U.S. Bureau of Economic Analysis, the personal consumption expenditures (PCE) price index increased 0.1% in June and was up 2.5% from a year ago. The annual rate showed a slight decline from May's 2.6%, confirming that inflation continues to close in on the Federal Reserve’s 2% annual target.
The largest digital asset by market cap's price increased 4.7% in the past 24 hours and was changing hands for $67,689 at 11:28 a.m. ET, according to The Block’s Price Page.
In early trading on Friday, the Dow Jones Industrial …