Bitcoin Climbs Above $47K, Ignoring Stock Market Weakness; Fed’s Preferred Measure of Inflation Eyed

At 10:41 UTC, the cryptocurrency was trading 7% higher on the day near $47,200. The broader crypto market is also positive, with native cryptocurrencies of smart-contract blockchains like VeChain, Tezos, and Elrond gaining more than 8%. Ethereum’s ether traded 7% higher at $3,245.