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Crypto Surges $23 Billion amid US Stock Market Recovery: Direct Correlation?

From ccn.com

On November 28, the Dow Jones Industrial Average surged by 617 points, recording its biggest rally since March. Following the unexpected rebound of the U.S. stock market, the crypto market increased in valuation, by more than $23 billion. Federal Reserve Chairman Jerome Powell announced on Wednesday that interest rates have declined to a neutral level, reflecting the performance of the market and the U.S. economy over the past several months. Powell said: “Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy — ... (full story)

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  • Category: Fundamental Analysis