Crypto prices remain flat ahead of FOMC minutes, Nvidia earnings

Bitcoin (BTC) continues to trade in a tight range around $77,000 in morning U.S. action on Wednesday. The major stock indices are posting small gains after three consecutive negative sessions.

Minutes from the Fed’s last policy meeting are due to be released at 2:00 pm ET. That April meeting was notable as it was the last to be headed by Jerome Powell, with Kevin Warsh due to be sworn in as Fed chair on Friday.

The meeting was also important for having four dissents — one from Stephen Miran, who wanted the central bank to trim rates, and three from board members who urged the Fed to drop any language suggesting an easing bias.

In the weeks since, bond markets globally have taken a major tumble as unexpected economic strength has combined with resurgent inflation to force a major reassessment from rate traders.

Nvidia (NVDA) reports its quarterly results after the close on Wednesday. A large stock price move in the tech bellwether is likely to lead to a sizable move in the Nasdaq. Traders accustomed to crypto’s correlation with that index will be keeping a close eye.