The bitcoin price rose 3.69% this morning (June 25) to $21,238.90.
Bitcoin’s morning rally came after the Dow Jones Industrial closed up 823 points on Friday (June 24).
- The Dow Jones Industrial Average rose 823.32 points, or 2.68%, to close at 31,500.68.
- The S&P 500 rose 3.06% to close at 3,911.74 points.
- The Nasdaq rose 3.34% to close at 11,607.62 points.
The University of Michigan’s index of U.S. consumer sentiment fell to 50 in June from 50.2 in May. This will be an indicator of the direction of the Federal Reserve’s (Fed) interest rate policy. The market is paying attention to U.S. consumer inflation expectations for the next year and the next five years after the U.S. released the highest inflation numbers in more than 40 years.
Consumer expectations rose to 47.5 in June from 46.8 in May but remained below the 50 mark.
Sentiment indices were weighed down by inflation and recession fears.
Moreover, consumers expect inflation to reach 5.3% next year.
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Saturday, June 25, 2022