MicroStockHub/E+ via Getty Images
Bitcoin (BTC-USD) oscillated around the breakeven level in trading on Thursday afternoon, after testing the highest level seen in 10 months, despite the upbeat stock market mood.
The token made small gains of 0.2% at $28.23K at 12:33 p.m. ET, after briefly rising as high as $29,100 in recent trade, the highest level since last June. On the other hand, ethereum (ETH-USD) He slipped 0.4% at $1.78K.
Meanwhile, the stock market changed hands firmly in the green, with the Dow Jones up. 0.1%S&P 500 +0.4% and the high-tech Nasdaq +0.6%helped in part by favorable economic data that pointed to a less resilient economy amid the Fed’s anti-inflation stance.
The two largest coins by market cap (BTC-USD) (ETH-USD) rose sharply in March, a month marked by speculation that interest rate peaks are near and the banking turmoil will subside further. The stock market is also on track to end the tumultuous month higher, but not to the same magnitude as BTC and ETH, as seen in the chart below.
As you might have guessed, most cryptocurrency-exposed stocks were gapping at the time of writing. Among the biggest losers were Silvergate (SI), -10.6%Microstrategy (MSTR), -2.2%and Coinbase Global (COIN), -1.4%.
Take a look at the latest outlook for the crypto market.
