Lyn alden schwartzer full#

“Things like gold and BTC often have a brief drop in hot CPI prints because the market starts quickly assuming faster rate hikes by the Fed,” Lyn Alden Schwartzer, founder of Lyn Alden Investment Strategy, explained in a tweet on Thursday.īitcoin's daily price chart shows nearby resistance levels (Damanick Dantes/CoinDesk, TradingView)īitcoin has traded in a choppy range at between $43,249 and $45,843 over the past 24 hours.īuyers reacted quickly to a nearly 5% price drop early in the New York trading session and maintained short-term support at above $43,000. Meanwhile, ether, the second-biggest cryptocurrency by market capitalization, was down over 4% to $3,105 in the same period. At the time of publication, the oldest cryptocurrency was changing hands at $43,807, down 1.4% in the past 24 hours, according to CoinDesk data. Labor Department on Thursday reported that the consumer price index (CPI) for January hit 7.5%, which was higher than what analysts had expected.īitcoin started falling as stock prices declined further from an initial drop earlier in the day.

Lyn alden schwartzer full#

Louis President James Bullard said he supported raising interest rates by a full percentage point by July, Bloomberg reported. Responding to a surprisingly high rate of inflation, Federal Reserve Bank of St. stocks fell further following hawkish remarks by a Federal Reserve official. Bitcoin (BTC) struggled to remain above $44,000 on Thursday, as U.S.