Crypto Stocks Jump As Bitcoin Backs Above $99,000
The softer core price index helped lift crypto. Bitcoin climbed more than 2.7%. The original cryptocurrency changed hands at $99,188 as of 9:09 a.m. in New York, close to $10,000 below last month’s record high.
Meanwhile, President-elect Donald Trump will be sworn in on Jan. 20 and may unleash a policy blitz. Speculators are weighing up the risk of inflationary tariff and immigration policies against his pledge to make the US the global home of crypto.
Crypto stocks jumped in premarket trading. Canaan rose 7%; TeraWulf, and Hut 8 rose 6%; MicroStrategy and Bakkt Holdings rose 5%; CleanSpark, MARA Holdings, Riot Platforms,and Coinbase rose 4%.
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