Bitcoin struck a record high Wednesday, a day after its foray onto Wall Street, as stocks largely held steady as investors tracked earnings and economic data.
The dollar was mixed against its main rivals, while oil prices retreated.
Bitcoin briefly soared to above $65,000, a day after a financial instrument dedicated to the unit made its debut on the New York Stock Exchange.
The Bitcoin Strategy ETF, a new exchange-traded fund linked to bitcoin futures rather than directly to the currency, rose nearly five percent in its first day of trading on Tuesday.
The fund should be a more accessible vehicle for mainstream investors, and could therefore boost trading in the cryptocurrency.
“There is a possibility that the impact of the ETF’s launch might already be priced in, and we could see some ‘buy-the-rumour, sell-the-fact’ type of reaction in the days ahead,” noted ThinkMarkets analyst Fawad Razaqzada.
Known for its volatility, bitcoin could also “easily break the record high, before potentially climbing towards $70,000… which is the next psychological hurdle”, he added.
Asian stock markets mostly closed higher Wednesday.
Hong Kong led the gains, jumping more than one percent, with market heavyweight Alibaba rallying following reports that founder Jack Ma was on a trip to Europe — fanning hopes that China’s long-running crackdown on the firm may have run its course.
European stocks were near the break even line in afternoon trading, with Paris up marginally, and London and Frankfurt dipping.
Wall Street’s main indices opened with modest gains.
Strong profit reports from big-name firms over the past week have reinforced optimism that the corporate sector is, for now, weathering a recent slowdown in economic growth, supply chain issues and surging inflation, providing a much-needed boost to worried traders.
“So far, a trend among consumer staple goods appears to be developing as a positive theme, which means these important goods are at least getting to market,” said market analyst JJ Kinahan at TD Ameritrade
