U.S. Growth Hits 3.4%, and PCE Inflation Climbs to 3.6%. Crypto Stocks Slip Again Before Coinbase and Strategy Report: Can Tonight’s Earnings Stop the October Slide?

The U.S. economy grew at a 3.4% annual rate in the third quarter and inflation picked up to 3.6% in September, the Bureau of Economic Analysis reported on Thursday, October 29, hours before crypto stocks Coinbase and Strategy report earnings. The sector was already down before the data and barely moved on it. Coinbase traded 2.4% below Wednesday’s close before the open, Strategy 2.3% and Circle 2.5%. The bigger story is the month: bitcoin miners are down 31% to 37% in October and Coinbase 15%, against a 4% drop for Bitcoin itself.