The price for bitcoin moved back above $9,000 on Tuesday, taking along other cryptocurrencies for the ride, in a bid to shed the weakness seen at the start of the week.
Bitcoin’s gains come as global equities moved higher, with U.S. stock futures on the rise ahead of important data on inflation due later. The two have developed a correlation in recent months.
A single bitcoin
was changing hands at $9,356.03, up 2.8%, after the No. 1 cryptocurrency lost ground to drop below $9,000 on Monday. Regulatory concerns have been biting into digital currencies as of late, specifically a warning last week from the Securities and Exchange Commission over crypto-trading platforms.
Among other major cryptocurrencies, ether was up 1.7% at $711.39, Bitcoin Cash was up 2.5% at $1,083.57, Litecoin was up 0.8% at $180.42, and Ripple was flat at $0.80, according to news and research firm CoinDesk.
As for futures markets, the Cboe Global Markets March contract
rose 6% to $9,400, while the CME Group Inc. March contract
added 5% to reach $9,425.
A reading on the U.S. core consumer prices index for February is expected to be released at 8:30 a.m. Eastern Time.