News
Bitcoin Returns to Early August Levels Amid Stock Market Rally
Bitcoin has returned to prices last seen in early August, when the cryptocurrency gained 25% in a single month. The market rebounded with U.S. stocks, with the S&P 500 up 1.9% and the Nasdaq Composite up 2.2%. Bitcoin was up 0.7% at $74,559 after a wave of forced selling in crypto derivatives, with $1.2 billion in liquidations over 24 hours. The Bureau of Labor Statistics will release the October consumer price index tomorrow, which could impact the Federal Reserve's interest rate decision in December.