The world’s No. 1 crypto, and prices of digital assets more broadly, were headed higher on Monday
At last check, bitcoin prices BTCUSD,
Gains for the crypto are still far from its mid-April peak near $65,000, but bullish investors view the recent price run-up as constructive and potentially auguring well for bitcoin values in the longer term.
The rally was being partly attributed to comments from Tesla Inc. TSLA,
The moves in crypto come as stocks are under pressure in early trade as investors await a key update on Wednesday from the Federal Reserve about its inflation outlook. The Dow Jones Industrial Average DJIA,
Meanwhile, other crypto assets were also climbing in sympathy with bitcoin, perhaps. Ether coins ETHUSD,
Those assets are also well off their recent peaks hit in May.
Cathie Wood, the star fund manager and chief executive of ARK Invest, took to CNBC on Thursday to defend ARK's woeful performance over the past year.
Mark DeCambre is MarketWatch’s markets editor. He is based in New York. Follow him on Twitter @mdecambre.