After a short lived dip, risk-on is back for crypto trading

Risk-on investing is back. 

Crypto outperformed equities Wednesday morning after better-than-expected inflation data fueled investor optimism that interest rate hikes are a thing of the past. 

Bitcoin (BTC) and ether (ETH) posted gains of 1.4% and 1.6%, respectively, early in the trading session, recovering from Tuesday’s sharp decline that saw BTC dip below $36,000. The Nasdaq Composite and S&P 500 indexes opened slightly in the green, each rallying less than 0.4%. 

Equities’ mild bounce Wednesday seems to be an extension of the Consumer Price Index-fueled rally on Tuesday, which saw the Nasdaq soar.

“Risk assets celebrated, with the Nasdaq jumping 2.4% yesterday. BTC rose…

Read more on Blockworks

27.8K Reads