The crypto market is in recovery mode on Wednesday following a cascade of selling earlier in the week that for now appears to have flushed out much of the long leverage.

The move higher comes alongside a sizable rally in the U.S. stock market following this morning’s Consumer Price Index report that matched economist forecasts. The news was enough to convince traders that the Federal Reserve is certain to trim its benchmark fed funds rate another 25 basis points at its meeting next week. The Nasdaq is ahead 1.5% and the S&P 500 just shy of 1%.

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Author: Stephen Alpher

Coindesk

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