Bitcoin climbed past $24K on unexpectedly favorable inflation news...Professors from Sydney_Uni say that governments are focusing too heavily on crypto's financial and economic significance. shauryamalwa and JPRubin23 report
Ten-year Treasury yield daily close: 2.79%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atThe July Consumer Price Index report in the U.S. was sweet music for crypto investors.
Bitcoin was recently trading just at roughly $23,850, up nearly 3% over the past 24 hours. The largest cryptocurrency by market capitalization had breezed past the $24,000 threshold earlier in the day and remained in the upper end of the range it's occupied for the better part of two weeks. Markets were clearly feeling more hopeful the U.S.
“Crypto has not sat idly by and has pushed higher on the news, albeit not to radically higher levels than in past days," Simon Peters, crypto market analyst at social investing network eToro, wrote in an email."Given crypto asset markets’ recent tight correlation with U.S. equities, this should come as no surprise. At the bottom of this is a change in the makeup of the market.
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