Bitcoin (BTC) continues to trade in a narrow range around $77,000 in morning US action on Wednesday. The major stock indexes are showing slight gains after three consecutive negative sessions.
The minutes from the Fed’s last policy meeting are to be released at 2 p.m. ET. The April meeting was notable for being the last chaired by Jerome Powell, with Kevin Warsh due to be sworn in as Fed chairman on Friday.
The meeting was also notable for having four dissents — one from Stephen Miran, who wanted the central bank to cut interest rates, and three from board members who urged the Fed to drop any language suggesting an easing bias.
In the weeks since, bond markets globally have taken a big tumble as unexpected economic strength has combined with resurgent inflation to force a major reassessment from interest rate traders.
Nvidia (NVDA) reports its quarterly results after the close on Wednesday. A big stock price move in the tech bellwether is likely to lead to a significant move in the Nasdaq. Traders accustomed to crypto’s correlation with that index will keep a close eye.
