Extraordinarily elevated inflation expected today, April 12. Will Bitcoin react?

2022-4-12 06:30

As Bitcoin drops into the $39,000 range for the first time since March 16, the White House has just announced. They expect “extraordinarily elevated” headline CPI data to be released tomorrow, April 12. The statement confirms that gas prices in the US rose roughly 25% in March, and these figures will drive tomorrow’s inflation readings.

NOW – White House warns of "extraordinarily elevated" inflation data.pic.twitter.com/3ZDqpHFgoc

— Disclose.tv (@disclosetv) April 11, 2022

Inflation expectations are higher than anticipated.

In February, CPI data showed that inflation had reached 7.9% as motor fuel prices increased by just 6.7%. Suppose we replace the seasonally adjusted month-on-month figure of 6.7% for gas in February with the reported value of 25%. In that case, we get headline inflation that could drive the markets into turmoil. The current forecast is for inflation to increase to 8.4% in March. However, this data suggests that we could see a figure of over 15%. Chainlink-based inflation oracle, Truflation has inflation set for 13.5%. The blockchain project aims ‘to substitute 80% of the CPI categories by their relative importance in the official CPI basket in 2022.’ The data is collected and then aggregated to create a real-time inflation level oracle for the Chainlink marketplace. 

If inflation does indeed come out as hot as this suggests, we are likely to see a big sell-off in high-growth stocks and tech. Unfortunately, Bitcoin often behaves like tech and follows suit on a downward trajectory when this happens. However, even with today’s 6% decline in Bitcoin’s price, it can potentially act as an inflation hedge by simply not dropping any further when the CPI numbers are released.

Bitcoin pricing in inflation

The price of Bitcoin fell almost 3% following the White House statement, which suggests that the cryptocurrency may already be pricing in the max pain of tomorrow’s release. With crypto markets being open 24/7, they have a unique ability to react in real-time to world events. It will be interesting to see how the top cryptocurrency reacts if tech stocks gap down considerably when the stock markets open for pre-market trading.

CPI data for March will be released at 8 am EST on April 12 on the Bureau of Labor Statistics website. Be sure to watch closely to see how the crypto market at large reacts to what is expected to be the highest headline CPI release in a long time.

The post Extraordinarily elevated inflation expected today, April 12. Will Bitcoin react? appeared first on CryptoSlate.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 62991.47 (+0.07%)
Объем 24H $8.353b
Изменеия 24h: -0.04 %, 7d: -3.04 %
Cегодня L: $62915.65 - H: $63105.66
Капитализация $1264.303b Rank 1
Цена в час новости $ 40137.51 (56.94%)

bitcoin react extraordinarily inflation elevated today april

Источник: cryptoslate.com

bitcoin react → Результатов: 126


Фото:

How Will The Crypto Market React To Next Week’s Senate Hearing On a Digital Dollar?

Bitcoin and the rest of the crypto market are at a pivotal moment. Either a new bull market is beginning, or a deeper fall into a bear market is next. How will the market react to the potential emergence of a digital dollar coming out of next week’s Senate hearing on the topic? Crypto Dad Pushes United States To Embrace A Central Bank Digital Currency Next Tuesday, the United States Senate Banking Committee will hold […]

2020-6-25 18:00


Фото:

Cryptocurrency News Roundup for March 12, 2020

It’s the textbook example of a market bloodbath — there’s no way to sugarcoat it. Cryptocurrency traders who didn’t get a chance to react had the worst of it. Almost $100 billion was wiped from the market cap over the past 24 hours, with Bitcoin closing 38% in the red and some major altcoins lost […] The post Cryptocurrency News Roundup for March 12, 2020 appeared first on BeInCrypto.

2020-3-13 11:21


D-Day in Bitfinex Trial — Will Bitcoin Price React?

Monday’s judgment in the legal tussle between the New York Attorney General (NYAG) and Bitfinex might have some short-term effect on the Bitcoin price. All Eyes on Monday’s Trial Outcome As previously reported by Bitcoinist, the Supreme Court of the State of New York will resume hearing on the case between the NYAG and bitcoin exchange platform Bitfinex on Monday (July 29, 2019).

2019-7-29 17:00


Cryptocurrency influencers react to Facebook’s Libra, boon or risk for Bitcoin?

Some of the most prominent figures in the crypto community took to Twitter to share their thoughts on Facebook’s Libra cryptocurrency. While some claim that Libra lacks the necessary features to compete with Bitcoin in the race to become the world’s currency, others argue that it could destroy most altcoins and stablecoins in the market.

2019-6-18 20:44


Фото:

Bitcoin Price Analysis: Slow Grind Could Lead to Short Squeeze

Last Friday, we discussed a macro resistance level bitcoin would likely test. The level was tested three times prior and immediately rejected. Now, for the fourth time, we find ourselves situated above the level as we wait to see if our support holds:Figure 1: BTC-USD, Daily Candles, Fourth Test of Macro ResistanceThe first three attempts to hold support above the black, broken resistance have been stifled with relatively high amounts of volume.

2019-3-19 01:17


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

“Major US bank blows up from Silver trade” headlines hide the $675M margin shock currently hitting traders

This week started with a sensational screenshot shared across hundreds of breathless posts on X, and a claim designed to hit every financial nerve ending at once. A “systemically important” US bank, a silver margin call, liquidation by the exchange in the middle of the night, the Federal Reserve allegedly “forced” to pump billions into […] The post “Major US bank blows up from Silver trade” headlines hide the $675M margin shock currently hitting traders appeared first on CryptoSlate.

The Big Bitcoin Short (Part 2): Rumor mill suspects link to US government insiders

Previously on The Big Bitcoin Short: a trader shorted Bitcoin minutes before President Trump’s tariff post and booked about $160 – $200 million. Eye, a crypto investigator who helped frame the story by tracing wallets and proposing that Garrett Jin could be a front for a broader network, has now stepped back, citing safety concerns.