First Mover Asia: Crypto Rally Fizzles Amid Widespread Inflationary Concerns

First Mover Asia: Crypto Rally Fizzles Amid Widespread Inflationary Concerns
(Edited by James Rubin)Good morning. Here’s what’s happening this morning:Market moves: Bitcoin’s relief rally” appears to be temporary, after major central banks announced plans to battle high inflationTechnician’s take: Bitcoin could see a brief price bounce, although sellers remain in control.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.PricesBitcoin (BTC): $47, 683 -2.3%Ether (ETH): $3,981 -1.54%MarketsS&P 500: $4,668 -0.8%Dow Jones Industrial Average: $35,896 -0.08%Nasdaq: $15,180 -2.4%Gold: $1,798 +1%Market movesBitcoin’s “relief rally” after the U.S. Federal Reserve officials approved the acceleration of its plan to withdraw the pandemic stimulus efforts appeared to be short-lived,…