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Stocks, meanwhile, climbed higher to start the week as investors are cautiously optimistic ahead of tomorrow's Consumer Price Index report, which is expected to show that the annual inflation rate has fallen to 6.2% from 6.5% the month prior. At the close of markets in the U.S., the S&P, Dow and Nasdaq all finished the day in the green, up 1.14%, 1.11%, and 1.48%, respectively.
While no one likes the sight of declining prices, analysts at Eight Global said that “A correction was due,” and highlighted that this one just so happened to “coincide with yet another regulatory clampdown on the crypto space last week.” The likelihood of BTC managing to hold above $21,500 remains in question, however, as crypto market analyst Rekt Captial highlighted in the following tweet, which suggests that BTC is positioned for a downside continuation.
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