As U.S. Inflation Hits 7.91%, Negative Impact On Bitcoin Price Looming
A coming liquidity crisis in legacy markets could have negative impact on bitcoin price.The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.Today, we saw yet another acceleration in the United States Consumer Price Index for the month of February with data coming in line with consensus expectations at 7.91%. Previously, we expected inflation to potentially peak in Q1 while remaining elevated for the rest of the year....
Related News
As major economies of the world grapple with high inflation, investors could protect their savings from value erosion by investing in stablecoins. Just when the global economy largely recovered from the crippling effects of the COVID-19 pandemic, geopolitical tensions and the resultant supply chain pressures have once again roiled financial markets across the world. Furthermore, inflation has once again reared its ugly head, forcing central banks across major economies to raise interest rates in an attempt to curtail runaway prices of essential commodities like food and fuel. Despite these....
CoinShares noted that despite “price weakness and perceived negative impact from the looming conflict in Eastern Europe,” digital asset investment products saw inflows totaling $109 last week. Amid a marketwide downturn across major crypto assets over the past week, institutional traders tipped almost $89 million into Bitcoin (BTC) funds. However, the money men failed to ba Ethereum (ETH) investment products, which saw outflows totaling $15.2 million. Despite Cointelegraph reporting earlier this week that activity on the Bitcoin network was down 30% since its ATH levels three months ago,....
As an immediate countermeasure against the rising inflation of its fiat currency, the Russian central bank doubled key interest rates on Feb. 28, from 9.5% to 20% U.S. dollar-pegged stablecoin Tether (USDT) witnessed a spike of over 30% in five days against the Russian ruble — highlighting the negative and immediate impact of the ongoing war on the traditional financial system.Data from Cointelegraph Markets Pro and crypto exchange Binance show that the ruble (RUB) is undergoing inflation as the USDT/RUB trading pair — for the first time in history — crossed 105 RUB.USDT/RUB price....
For the month of June 2022, the US Bureau of Labor Statistics published its Consumer Price Index. The Negative CPI was found to be 9.1%, the largest inflation increase in the US in the previous 40 years. The Federal Reserve’s monetary policy is determined by the CPI, which is a reliable indicator of inflation. Negative CPI Report Causes Bitcoin To Tumble Prior to the release of U.S. inflation statistics on July 12, the price of Bitcoin (BTC) settled into a solid holding pattern, which ultimately added more negative volatility. According to the latest CPI report for June, inflation in....
Following the Covid-19 pandemic, the massive amount of stimulus, and amid the Ukraine-Russia war, Germany’s inflation has soared. Official data from Germany’s consumer price index (CPI) indicates that inflation jumped to a 10.9% annual pace in September and it’s the first time since the end of World War II that Germany has dealt with double-digit inflation.
German Inflation Skyrockets Tapping Double-Digits in September
All across the world, inflation rates have risen a great deal. Many economists believe that the energy crisis in Europe that is tied to the....