Bitcoin was lingering below $26K, about where it has stood much of the past 3 days, as investors awaited Tuesday's May CPI report, which will offer the latest insights on inflation, and Wednesday's Federal Reserve rate hike decision. JPRubin23 writes
After surfacing briefly above $26,000 early Monday morning, bitcoin returned to its recent, more familiar haunts below this threshold.
Moya noted that ahead of the CPI report and Fed decision, “bitcoin has key support at the $25,400 region.” Cryptos’ path again veered from major U.S. equity indexes, which rose – buoyed by a recent surge in large tech stocks. The S&P 500 climbed 0.9% to reach its highest level in a year, and the tech-heavy Nasdaq jumped 1.5%, while the Dow Jones Industrial Average added 0.5%. The yield on the 10-year Treasury ticked up to 3.73%. Gold, which has often traded similarly to digital assets, fell 0.2%.
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