First Mover Asia: Bitcoin and other cryptos have been remarkably resilient in recent weeks; why is the dollar overwhelming other currencies if inflation is soaring? JPRubin23 reports.
Ten-year Treasury yield daily close: 3.71%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atSay this for bitcoin: It's resilient.
On Wednesday, BTC was still trading comfortably above $19,000, up more than 4% over the past 24 hours and seemingly impervious to the increasingly volatile macroeconomic environment. How long bitcoin holds above this threshold remains uncertain as is its previously considered role as an inflation hedge.
Ether showed similar toughness as it hovered near $1,340, up nearly 5% from a day earlier. Other major cryptos spent the day solidly in the green with BNB and XRP recently up close to 5% and 4%, respectively, although the, a broad-based market index that measures performance across a basket of cryptocurrencies, was roughly flat.