Crypto Exchange Inflows Swell as Stimulus Checks Arrive, But Will it Matter?

When the U.S. Congress approved Biden’s $1.9 trillion pandemic response stimulus package last week, the crypto market boomed as Bitcoin surged to an all-time high. The largest cryptocurrency rose to over $61,500, led by optimism that the stimulus payments would be a boon to the digital asset’s months-long rally. However, as traditional equity markets showed mixed signals on Monday with a string of bad news, Bitcoin plummeted more than 10% alongside the broader crypto market. […]