Congressman Sherman Questions SEC, Bitcoin Developers Debate BRC-20
May 12, 2023
Market Update Stocks and crypto continue to slide as $BTC fell 2.0% while the S&P dropped 0.52%. The S&P is on track to close its second negative week after the University of Michigan’s consumer sentiment index estimate came in at a 6-month low of 57.7 vs. 63 expected. The survey also showed consumer outlook for inflation over the next 5 years has reached the highest level since 2008, with 3.2% inflation expected. $BTC has reached 2-month lows trading at $26.3k, just above the key level of its 200-week moving average at ~$26.1k. The downward price action has followed a string of negative he