2022-6-14 10:32 |
Carnage for short-term traders and speculators as volatility destroys both long and short positions on the way to $20,000.
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Bitcoin prices are moving sideways when writing and are generally firm. Even though there are marks of strength, the world’s most valuable coin is still swimming against ferocious downstream currents and could risk plunging below $60,000 and May 2024 lows.
Increasing concerns about sticky inflation hit risk assets across all markets including cryptos.
As Argentina’s inflation climbs, Bitcoin gains popularity over fiat currencies, driving increased crypto purchases and scam activity. In Argentina, where inflation has surged to staggering levels, Bitcoin is emerging as a preferred hedge against economic instability, Bloomberg reports, citing data…
The global crypto market and the leading cryptocurrency, Bitcoin (BTC), registered a slight decline as the U.S. Consumer Price Index (CPI) data exceeded expectations. According to data from the CME Group, the CPI annual rate dropped from 3.4% to 3.1%…
The CPI reading reduced expectations for interest-rate cuts in the next months, weighing on risk assets such as crypto.
The US CPI came in 3.4%, while core came in higher than expected. Stocks are plunging.
The post Crypto Market Reaction: US CPI Comes in Hot for December appeared first on BeInCrypto.
Bitcoin’s latest price pullback to $35,000 was driven by softer U.S. inflation, China’s economic challenges and regulatory uncertainties.