Negative CPI Report Causes Bitcoin Market Cap To Lose $15 Billion In 10 Minutes
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....
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The crypto market and Bitcoin trend over the past few days have been entirely unexpected. The market is feeling the heat from the bears as most of the crypto assets took to the south. Moreover, the FTX crisis has increasingly brought a different contagious negative performance in the space. Related Reading: Bitcoin On-Chain Data: Selling From Whales Holding 1k+ BTC Behind Crash Bitcoin had a complicated swing as the token dropped from its critical level of $20K. The price of BTC has dipped to around $16K region. The entire situation and unfolding of events are creating more fear and doubts....
In the months following the collapse of Tokyo-based Mt. Gox, the bitcoin community is still struggling to understand what brought the oldest and once-largest exchange to its knees. How did it lose so much money? Where did it go? They're answers we're very much looking for, but a new report published at The Willy Report raises even more questions, particularly surround the exchange and its relationship to the price of bitcoin. The report spotlights two trading bots that were spotted by community members last year, given the names "Willy" and "Markus". Both bots would purchase somewhere....
Scams in the crypto space have recorded a meteoric rise with the bull rally and one Coinbase user has suffered a tremendous loss after falling victim to one of these scams. The user had fallen victim to the phishing scam that saw him lose millions in crypto to the scammer in a matter of minutes. […]
The Republic of El Salvador has made many headlines this week as the country adopted bitcoin as legal tender on Tuesday and became the first-known nation-state to purchase the leading crypto asset. A recent report details that remittance providers like Moneygram and Western Union could lose up to $400 million annually if the Chivo wallet is used more. Furthermore, the creator of the world wide web, Tim Berners-Lee has written an opinion piece about why Salvadoran president Nayib Bukele announced the bitcoin tender law at the Miami bitcoin conference.
Chivo Wallet Could Hurt Remittance....
Majority of the DeFi tokens traded in red with several registering double digit losses over the past week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.This past week, Celsius’s financial troubles mounted further as a new coin report showed the company had a balance gap of $2.85 billion, more than double what it had shown in the bankruptcy filing. Aave (AAVE) called upon community members to commit to the Ethereum proof-of-stake (PoS) Merge.Coinbase CEO said....