Bitcoin price edges higher as Fed inflation meeting sends DXY to 2-month high
The U.S. dollar appeared to benefit from fresh comments by Jerome Powell, while Bitcoin remains frustrated. Bitcoin (BTC) stayed below $40,000 on June 17 as a surging U.S. dollar added to downward BTC price pressure.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC/USD bounces at $38,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at around $39,300 on Thursday.The largest cryptocurrency fell during a meeting of the Federal Reserve the day before in which Chair Jerome Powell acknowledged inflation could run higher than planned in the short term. As....
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Shiba inu fell to a four-month low on Thursday, as consumer prices in the United States rose by more than expected. U.S. inflation came in at 8.2% in September, which is higher than the 8.1% consensus expectation. Solana was in the red as well, as the token also hit a multi-month low. Shiba Inu (SHIB) Shiba inu (SHIB) dropped to a four-month low on Thursday, as markets reacted to the latest U.S. inflation report. Consumer prices climbed to 8.2% year-on-year in September, which is higher than expectations of 8.1%. As a result of this, SHIB/USD fell to an intraday low of $0.000009385, which....
The rush to so-called safe-haven cryptocurrency appears despite concerns that the Federal Reserve would taper its $120 billion a month asset purchasing program. Bitcoin (BTC) inched higher on Sept. 18 as the focus shifted to the Federal Open Market Committee's (FOMC) policy meeting in the wake of lower inflation numbers last Tuesday.The BTC/USD exchange rate approached $49,000 on the Coinbase exchange, hitting $48,825 before turning lower on interim profit-taking sentiment. Nonetheless, the move uphill raised expectations that the pair would hit $50,000, a psychological resistance target,....
Following the record 7.5% high for January, the U.S. Labor Department’s Consumer Price Index (CPI) data shows February’s CPI metrics rose to 7.9%. The CPI data published on Thursday is a new 40-year high and month over month, inflation jumped by 0.8%. President Joe Biden is blaming the inflation spike on Russia’s invasion, as he previously warned “there will be costs at home.”
February’s CPI Data Jumps to 7.9%, US Stocks Suffer
In the U.S., there’s been a significant increase in the prices of goods and services in the American....
The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting. It is expected that another Fed interest rate hike is on the horizon, which will no doubt have a profound effect on the crypto market. FOMC Meeting Draws Near The next FOMC meeting will take place on November 1-2 according to the official schedule. It happens around once every one to two months and is important as this is....
While inflation continues to roar in the U.S., the inflation rate in the eurozone tapped another high last month reaching 7.5% in March. Energy and food prices have soared throughout the 19 member state economies, and European Central Bank president Christine Lagarde expects energy prices to “stay higher for longer.”
Eurozone Inflation Continues to Climb, ECB Predicted to Raise Rates 3 Times This Year
The 19 countries sharing the euro are suffering from rising inflation according to figures stemming from March that shows the inflation rate rose to....