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– Cryptocurrencies continue to see choppy post-halving price action with little change in the overall picture as the market has been in a holding pattern for the past two and a half months as macroeconomic concerns have captured the focus of investors. While cryptos traded sideways, stocks rallied into the market close after the return of meme stock frenzy enthralled traders, who watched the price of GameStop surge 60% on Tuesday following Monday’s 74% rally.
- The gold market has been holding significant gains since the start of the year, but the momentum behind the bullish drive has dried up as investors once again focus on the Federal Reserve’s monetary policy.Cryptocurrencies continue to see choppy post-halving price action with little change in the overall picture while the return of meme stock frenzy has enthralled investors, with GameStop gaining 60% on Tuesday.
- Federal Reserve Chair Jerome Powell attended a Foreign Bankers’ Association event in Amsterdam on Tuesday, which offered him the opportunity to comment on the U.S. economy in general, and inflation in particular, after PPI came in well above expectations in the morning.While Powell pointed to the progress that was made on inflation in 2023, he acknowledged that this year has not continued the positive trend.