Even as the S&P 500 reaches an all-time high, Bitcoin has not mirrored the optimistic trend in equities.
On the macro front, U.S. Federal Reserve Chair Jerome Powell made a recent statement that the central bank has made "quite a bit of progress" on inflation but needs more confidence before cutting rates. On Tuesday, Powell and European Central Bank President Christine Lagarde discussed monetary policy at the ECB Forum on Central Banking in Sintra. "The labor market is still strong, and the disinflation trend shows signs of resuming.
Meanwhile, major European and UK equity indices were green in early trading on Wednesday. In London, the FTSE 100 posted a 39.57-point increase to 8,160.77 in early-day trading. The European Stoxx 600 index increased 2.49 points to 513.40.Market participants have been closely monitoring inflation data to predict when the U.S. Federal Reserve might start reducing interest rates.
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