Meanwhile, the crypto industry continued to suffer the fallout from the ongoing bear market, with cryptocurrency exchange cutting 25% of its workforce – about 150 people.
and beyond as the European Central Bank raised borrowing costs for the first time in 11 years. Still, rising prices remain a concern in the U.S. reaching an eight-month high offered the latest evidence of a more desirable, gradual economic weakening. A Thursday report showing jobless claims in the U.S. The mildly, less hawkish turn has suggested to some observers that inflation may soon stall without the economy plunging into recession. central bank's Federal Open Market Committee (FOMC) would raise interest rates by 75 basis points instead of opting for a more robust 100-point hike. Investors have also been encouraged by reports that the U.S. Stocks have found even ground lately amid better-than-expected earnings reports from a number of major brands, most recently Tesla and Netflix (NFLX).
The tech-heavy Nasdaq jumped 1.3% while the S&P 500 increased almost a percentage point, respectively. Other major altcoins were in the green of a mostly dark shade, with Cosmos' ATOM and Polygon's MATIC climbing more than 13% and 8%, respectively, at one point.Įquity markets also rose on Thursday, albeit less robustly than cryptos.
Moya added optimistically: "This is not a game changer for bitcoin."Įther, the second-largest crypto by market cap, was changing hands just below $1,600, up more than 3% over the same period.
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