Bitcoin Near $46,000 After ETF Approval Decision: Markets Wrap

SEC approves Bitcoin ETF proposals on an accelerated basis
Fed’s Williams says rate high enough to cool inflation to goal

WATCH: “The market can still move higher in 2024,” says Russ Koesterich, global allocation fund portfolio manager at BlackRock, as he explains the factors that will drive markets in the year ahead.Source: Bloomberg

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By Rita Nazareth

January 9, 2024 at 10:35 PM UTC

Updated on

January 10, 2024 at 9:30 PM UTC

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Treasuries fell and big-tech fueled gains in stocks, with investors awaiting Thursday’s inflation data for clues on the outlook for Federal Reserve policy.

US 10-year yields topped 4% after briefly falling below that mark. The S&P 500 extended this week’s advance. Bitcoin traded near $46,000 as the US Securities and Exchange Commission approved Bitcoin ETF proposals on an accelerated basis. Oil fell as a surprise buildup in US stockpiles undercut the threat to supplies from Red Sea escalations.