Bitcoin spikes with stocks as US inflation hits highest since 1981
The Fed gets some serious heat as CPI numbers show just how quickly prices are rising for U.S. consumers. Bitcoin (BTC) saw a brief boost on April 12 after the United States saw its highest Consumer Price Index (CPI) data since 1981.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalyst: Inflation echoes "mythical stories"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking $400 instantly as the data was released.The U.S. CPI was up 8.5% year-on-year and rose 1.2% in March, alone, according to the U.S. Bureau of Labor Statistics.The most in over 40 years,....
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With inflation in the U.S. hitting its highest mark since the 2008 financial crisis, Bitcoin is serving as a critical lifeline.
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....
The flagship cryptocurrency hits its highest level in more than two months as inflation is expected to rise by another 0.5% in July. Bitcoin (BTC) reached its highest level in more than two months with just a few days remaining before the July inflation report.The top cryptocurrency climbed 1.65% to $45,363 on Aug.8, continuing the upside momentum that has already seen it jumping 21.62% from its August 5 low of $37,300. BTC/USD daily chart. Source: TradingView.comMomentum was strong among the Bitcoin rivals as well. Ether (ETH), the second-largest crypto by market cap, increased 29.78%....
The impact of macroeconomic factors on crypto and Bitcoin is increasing as inflation gets stronger. Both the crypto and the traditional market are facing a raging storm. Many international bodies fear that a possible global recession will soon break out. Another round of volatility has commenced in the crypto market. The cause is the US Consumer Price Index (CPI) report. The data is at 8.2% for the September record. Related Reading: Elrond (EGLD) Price May Break Past $56 Hurdle – Here’s How The United States CPI data serves as a gauge for measuring the inflation rate in the country. It....
Inflation continues to remain hot in the United States as supply constraints and higher oil prices continue, seeing barrels of crude surge above $80 per unit. Meanwhile, data released on Friday indicates that consumer expenditures have risen to 4.4%, the highest run-up of inflation the country has seen in 30 years.
Inflation Continues to Rise in US
Americans are dealing with higher inflation levels these days as new data indicates that personal consumption expenditures have spiked in September to 4.4%. Reuters reports that the inflation run-up is “continuing a run of....