I noticed that Bitcoin skyrocketed to $77,500 this week, while the US stock market remains a much more contained recovery. The Nasdaq almost wiped out the losses it had been accumulating, and cryptocurrency stocks like Circle rose much more than the overall market.



What caught my attention was that US manufacturing data is now much stronger. The ISM PMI hit 52.4, showing continuous expansion, and the Chicago Business Barometer surged to 57.7 in February. This suggests that the economy is truly accelerating, quite different from what some analysts predicted.

With these hotter readings, bets on interest rate cuts in March have almost disappeared. Putting all this together—Middle East tensions, higher oil prices, and producer price inflation—the Federal Reserve will probably keep rates steady until at least mid-March. Ether, Solana, and XRP also rose, but nothing as explosive as Bitcoin. I’m watching to see if this stock market recovery will hold or if we’ll see more volatility due to geopolitical tensions.
BTC-0.63%
SOL0.25%
XRP-0.2%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin