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Price analysis 2/19: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, AVAX, DOGE
The S&P 500 Index (SPX) snapped its five-week winning streak and fell by 0.42% last week as the United States Consumer Price Index and Producer Price Index for January rose more than economists expected. Hot inflation reports increased concerns that the Federal Reserve may not cut rates till late in the year. Previously, market observers were anticipating a rate cut as early as March. The adverse macroeconomic data has not affected Bitcoin’s price, which rallied about 8% to finish the week at $52,137, its highest weekly close since November 2021. Although $52,000 has been acting as a resistance for the past few ... (full story)