Crypto Marches Onward

Even the worst day on Wall Street in two years doesn't stop it

Talk about tough.

Rough. Choppy. A disaster.

All of these are apt descriptions for what happened in the stock market, and the world of cryptocurrency, this week. As we have discussed, those two asset classes have a lot of correlation, especially when it comes to the relationship between the NASDAQ and digital currencies.

And the fact is, the economy is under fundamental pressure from rising inflation. Tuesday’s CPI report missed expectations, and came in hotter than investors expected. That prompted a huge selloff, with the stock market closing with the worst daily losses since June 2020.