Bitcoin tanks on highest CPI data since 1981 as BTC price dips under $19K
U.S. inflation comes in a full 0.3% higher than expected, causing a dollar strength spike and the euro to fall below parity with USD. Bitcoin (BTC) fell $800 in minutes on July 13 as the latest United States Consumer Price Index (CPI) data came in far ahead of estimates.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar smashes new 20-year highs on hot CPIData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dived under $19,000 minutes after the June CPI print, which put U.S. inflation at 9.1%.Expectations had favored 8.8% CPI year-on-year, this still....
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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,....
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....
Finance Technology startups have multiplied in the past years, a three-year survey found that more than 71% of millennials (those who were born from 1981-2000) would rather go to their dentist than to their bank, this reaffirms the idea that FinTech solutions may go widespread in the coming years. Millenials, a generation born from 1981 to 2000, represents more than 84 million people in the US alone, they were conceived in the information era, a world filled with electronic devices, and a global communication network (The Internet). FinTech Trends. A three-year survey named The Millenial....
Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue as a vindication of their long-standing argument.
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Some social media users have derided Chinese authorities’ reported decision to deploy tanks around the central bank’s offices in Henan where bank customers have been protesting against the....
The ghost of the highest inflation since 1981 gets traders pricing in three more 0.5% rate hikes by October. Bitcoin (BTC) fell sharply on June 10 after surprisingly high inflation data from the United States rattled markets before the Wall Street open.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader: Bitcoin will be "painful" if $29,300 fails to holdData from Cointelegraph Markets Pro and TradingView tracked a $600 dive for BTC/USD as May's Consumer Price Index (CPI) figures hit.Despite hopes that the worst of the inflationary period was over, May's CPI print came in at....