2024-6-11 18:15 |
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Inflation cooled more than expected in February, offering hope that the Federal Reserve may be closer to cutting interest rates. However, the crypto market remained largely unresponsive despite the positive economic signal.
Earlier today, Bitcoin (BTC) dropped below $80,000 for the first time in over three months. According to data from Binance, BTC hit a low of $78,258, filling the Chicago Mercantile Exchange (CME) gap between $78,000 and $80,000.
Bitcoin (BTC) reacted sharply to today’s hotter-than-expected US Consumer Price Index (CPI) report, dropping from around $96,600 to as low as $94,088. Notably, BTC was already trending downward due to escalating geopolitical tensions following Donald Trump’s proposed tariffs on all aluminum and steel imports.
How will inflation, strong jobs data, and rising Treasury yields shape the Fed’s upcoming rate decision? The Federal Reserve’s Jan. 29 meeting looms large as markets eagerly await clarity on interest rate policy.
Argentine President Javier Milei has officially dismissed Florencia Mizrahi, the head of the country’s tax office, in a momentous political move that has sparked national and worldwide interest.
Headline inflation year-over-year is expected to increase by 0.2% and end a six-month consecutive decline, last seen in March 2024.
The U.S. government's debt and deficit issues aren't going anywhere no matter who wins the presidency next month, said Jones.