As traders expect the Fed to be less aggressive, Bitcoin mining stocks rise along with the rest of the market.
Before a highly anticipated U.S. CPI report later this week, the price of BTC rose to its highest level in three weeks. Shares of publicly traded Bitcoin BTC tickers down $17,219 miners went up on Jan. 9 as traders rushed into the stock market because more and more people were betting that the US Federal Reserve would soon be able to stop fighting inflation so hard. During intraday trading, Bitcoin miners Riot Blockchain (RIOT), Hut8 (HUT), Bitfarms (BITF), Marathon Digital Holdings (MARA), and others all saw gains of more than 10%. The rally happened at the same time that most stock markets were going up. The large-cap S&P 500 Index went up 1% and the tech-focused Nasdaq went up 2% before reversing its gains. The markets went up before this week's much-anticipated U.S. Consumer Price Index report, which is expected to show that price pressures are continuing to ease. The Labor Department's data from January 7 showed that job creation and wage growth slowed down in December...