Bitcoin, ether and most of the other major cryptocurrencies by market capitalization continued to hold about where they stood on Wednesday, same time. BTC and ETH both inched up a few fractions of a percentage point. BNB, APT and ADT, among others, were in the green. Bitcoin was recently holding steady over $23,000.
The largest contributions to economic growth came via inventory investment and consumer spending, while the smallest contributor to GDP was business investment. Investments in housing declined. Equity markets initially had a more mixed view of the data but later were feeling upbeat. The tech-heavy Nasdaq Composite recently jumped 1.5% while the Dow Jones Industrial Average and S&P 500, which has a strong technology component, were up 0.9% and 0.5%, respectively.
In other macroeconomic news, initial jobless claims of 186,000 were lower than expectations for 205,000, indicating that the labor market remains tight and the economy has not cooled enough to satisfy the central bankers trying to tame inflation. The Federal Reserve’s monetary policy has lowered prices in recent months through a series of steep interest rate hikes, but Fed governors remain concerned about their hawkishness spurring a steep recession.
GWilliamsJr_CMT Gooooo bitcoin!
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