Bitcoin Price Threatened By Sticky Inflation, CPI Print To Shed More Light
Hovering at a range between $18,800 and $19,500, the Bitcoin price is chopping out short and long positions. The current dynamics in the market have been determined by macro forces leading BTC to extreme as it approaches a major economic event. Related Reading: Bitcoin Boredom Causes Trading Volume To Dive 38% From September Highs The Consumer Price Index (CPI) for September is poised to operate as one of these events. In the past months, these reports, used by the U.S. Federal Reserve (Fed) to benchmark inflation, have been followed by spikes in volatility. At the time of writing, the....
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BTC.D rises in price as altcoins suffer a bloody day in crypto. BTC.D attempts to break out above 8, and 20-day Exponential Moving Averages as altcoins struggle to hold their key support. The price of BTC.D eyes a rally to 48% as this could mean more pain for altcoins. Many altcoins have experienced a relief bounce across the market as Bitcoin Dominance (BTC.D) remains below the 40% marked area allowing altcoins to rally when the market recovers. With Bitcoin Dominance (BTC.D) rising from the ashes, we could see the price of altcoins suffering more pain than expected if the price....
The crypto market has seen its most extensive greens after a long time of the bearish trend in the market. The event followed the positive report on CPI (Consumer Price Index) given by the U.S. Bureau of Labor Statistics in July. This announcement became the major push on the prices of Bitcoin and Ethereum. The CPI as of July dropped lower than the anticipated 8.5%, according to past reports. However, this doesn’t seem to contribute positively to potential inflation. To this effect, experts are now expressing concern about what they consider sticky inflation. The Managing Principal....
Traders tuck their tails as this week’s CPI print approaches and BTC and ETH price fall back into range to test underlying support. Crypto and equities markets took a bit of a tumble on Aug. 9 as traders grew a bit skittish ahead of tomorrow’s Consumer Price Index (CPI) report. The details of the print will shine a light on whether the Federal Reserve’s aggressive interest hikes are effective in tamping runaway inflation and it could have an impact on the size of future hikes. Earlier in the week, Tesla CEO Elon Musk suggested that July data will reflect the United States reaching peak....
Bitcoin and Ethereum have reacted negatively to the Consumer Price Index (CPI) print in the United States. The metric is used to measure inflation in the U.S. dollar and hit 9.1% for June which represents an increase from May’s results. Related Reading | Social Dominance Rate Of Bitcoin Marks An All-Time High in 2022 At that time, the crypto market crashed the following days after the CPI print. This meant inflation was still soaring and hinted at more intervention from the U.S. Federal Reserve (Fed). High inflation translated into high pain for Bitcoin and other risk-on assets. At....
Global financial markets and crypto sold-off after today’s 8.6% CPI print showed inflation remains a persistent challenge. Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981. The hotter-than-expected CPI print resulted in a collapse of the $30,000 support and Bitcoin (BTC) price sold-off to a daily low at $28,852 before dip buyers managed to bid the price back above $29,000.BTC/USDT 1-day chart. Source: TradingViewHere’s what several analysts in....