Bitcoin Is Now Beating the S&P 500 in 2022 (Or Losing Less)
  The latest moves in crypto markets, in context February 9, 2022 Supported by  If you were forwarded this newsletter and would like to receive it, sign up here.
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Market Moves By Shaurya Malwa and Bradley Keoun Bitcoin (BTC) was higher for a fourth straight day – extending a gradual climb that has pushed the largest cryptocurrency's price over $44,000 from as low as $32,900 just a few weeks ago.
"The trend is relatively stable, but whether it can be maintained is uncertain," Du Jun, co-founder of the crypto exchange owner Huobi Group, said in an email. "In the short term, focus on the direction of price adjustment and the pressure level of $45,500 above."
The recent gains have narrowed bitcoin's losses in 2021 to 4% – a smaller deficit than the 5.1% year-to-date loss for the Standard & Poor's 500 Index. For most of the year, bitcoin's returns had trailed the stock benchmark, so the reversal could draw eyeballs from investors who monitor these track records.
Analysts for Bank of America, the second-biggest U.S. bank, published a report finding that bitcoin has increasingly traded in sync with stocks over the past six months.
Despite the high price volatility of bitcoin, "individuals living in inflationary environments may view bitcoin as an inflation hedge," according to the report.
Meanwhile, blockchain data show that bitcoin miners – after collectively continuing to accumulate holdings through most of the January sell-off across crypto markets – finally started to dispose of some positions over the past weekend.  Chart based on blockchain data showing bitcoin miners finally capitulating over the past weekend after holding on for most of the January price slump. (Glassnode)
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Crypto Prices Bitcoin (BTC) See the latest price here Ether (ETH) See the latest price here The following are the biggest movers in the CoinDesk 20 digital assets over the past 24 hours: Biggest Gainers:
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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