fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Wednesday, October 4, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
Online Crypto College
No Result
View All Result

Bitcoin Slides As CPI Report Hints At Soaring Inflation

June 11, 2022
in Bitcoin
Reading Time: 2 mins read
A A
Bitcoin Slides As CPI Report Hints At Soaring Inflation
ShareShareShareShareShare

Related articles

Will XRP Price Defy A 50% Stock Market Crash? Analysts Weigh-In

Will XRP Price Defy A 50% Stock Market Crash? Analysts Weigh-In

October 4, 2023
Ethereum futures ETFs on CME begin with light trading volumes

Ethereum futures ETFs on CME begin with light trading volumes

October 4, 2023

As traders buckle down for the weekend, Bitcoin prices ushered in Friday’s session rather sluggishly.

During European trading hours, Bitcoin stayed slightly around $30,000, displaying signs of weakening ahead of the U.S. consumer price index (CPI) release.

The price of Bitcoin decreased on Friday after U.S. CPI data revealed that inflation was not abating.

Suggested Reading | Ethereum Prices Down For 4th Straight Session As ETH Trades Below $1,800

Bitcoin Drops 1.6% Minutes After CPI Report

In contrast to forecasts, the U.S. CPI increased last month, as indicated by the data. BTC fell by 1.6% in the minutes following the release.

BTC prices continue to trade below this week’s resistance level of $30,500 and have inched closer to the $29,500 support level.

BTC traders have experienced a consolidation between $32,000 and $28,650 after the selloff in May pushed the BTC/USDT pair to a low of $26,350. As a result, the BTC price has oscillated within a range for about a month, signaling market participants’ uncertainty.

CPI Climbs 8.6% YOY Last Month

According to the U.S. Department of Labor, the CPI, the most commonly followed measure of inflation, rose 8.6 percent year over year in May, up from 8.3 percent in April. The market anticipated a reading of 8 percent.

Source: New York Post

U.S. inflationary pressures have driven the Federal Reserve to boost interest rates more rapidly, suggesting additional losses for riskier assets.

In spite of negative macroeconomic market sentiment and systemic threats in the broader cryptocurrency market, Bitcoin has traded inside a narrow band of $28,000 to $31,000 over the previous 30 days.

In addition to rising interest rates, inflation, and the economic uncertainty that has plagued the entire financial system as a result of Russia’s unprovoked invasion of Ukraine, rising interest rates and inflation are also among the primary factors that have contributed to the negative market sentiment.

BTC total market cap at $556 billion on the weekend chart | Source: TradingView.com

BTC Sheds Nearly 65% From ATH

The world’s most sought-after crypto is down almost 65 percent from its all-time high, which was reached in the fourth quarter of 2017.

Despite recent losses, Bitcoin values are about 1 percent higher than they were a week ago, when they were trading for less than $29,000.

Meanwhile, Saturday’s Coingecko graphic depicts BTC trading at $29,271.63, down 1.5 percent in the last seven days.

Suggested Reading | Dogecoin Market Cap Shed $6-B Last Month – Will Bearish Pressure Continue The Pulldown?

Featured image from Currency.com, chart from TradingView.com

Credit: Source link

ShareTweetSendPinShare
Previous Post

Nigerian Court Sentences Crypto Fraudster to One Year in Jail, Accused Given Option to Pay Fine – Bitcoin News

Next Post

Bitcoin (BTC) Price To Surge Above $40K By End of June

Related Posts

Will XRP Price Defy A 50% Stock Market Crash? Analysts Weigh-In

Will XRP Price Defy A 50% Stock Market Crash? Analysts Weigh-In

October 4, 2023

The financial world is abuzz with speculations on the resilience of cryptocurrencies amidst potential global financial upheavals and a looming...

Ethereum futures ETFs on CME begin with light trading volumes

Ethereum futures ETFs on CME begin with light trading volumes

October 4, 2023

In a stark contrast of trading volumes, the debut of Ethereum futures ETFs on CME witnessed a modest start, with...

Dates To Watch Post-Interlocutory Appeal Win

Dates To Watch Post-Interlocutory Appeal Win

October 4, 2023

The United States Securities and Exchange Commission (SEC) has been dealt another setback in its ongoing legal battle against Ripple...

Bitcoin Price Reaches Key Juncture, Is This Bears Trap or Fresh Decline

Bitcoin Price Reaches Key Juncture, Is This Bears Trap or Fresh Decline

October 4, 2023

Bitcoin price started a downside correction below $28,000. BTC is now testing the $27,200 support and might start a fresh...

Chainalysis Trims Workforce By 15% Amid Broader Crypto Job Market Fluctuations

Chainalysis Trims Workforce By 15% Amid Broader Crypto Job Market Fluctuations

October 3, 2023

Facing challenges in the crypto job market, blockchain data company Chainalysis has confirmed another wave of layoffs in a series...

Load More
Next Post
Bitcoin (BTC) Price To Surge Above $40K By End of June

Bitcoin (BTC) Price To Surge Above $40K By End of June

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Another crypto exchange receives regulatory node in Singapore – AMBCrypto News

Another crypto exchange receives regulatory node in Singapore – AMBCrypto News

October 3, 2023
Strategic Competition and Digital Currencies: Insights from Daniel Flatley, Sarah Kreps, Chris Meserole, and Matthew Pines

Strategic Competition and Digital Currencies: Insights from Daniel Flatley, Sarah Kreps, Chris Meserole, and Matthew Pines

September 28, 2023
3AC's Su Zhu arrested in Singapore – Cointelegraph

3AC's Su Zhu arrested in Singapore – Cointelegraph

September 29, 2023
Ethereum’s Layer 2s Break New Ground in Scalability

Ethereum’s Layer 2s Break New Ground in Scalability

October 2, 2023
The Great Inscription Renumbering Debate: The Code & The Culture

The Great Inscription Renumbering Debate: The Code & The Culture

September 27, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Kevin O'Leary Foresees The End Of 'Crypto Cowboys' As Industry Shifts Towards Regulation: 'They All Have – Benzinga
  • Digitalbits Blockchain evolves into XDB CHAIN: A Game-Changing Rebranding Initiative.
  • Will XRP Price Defy A 50% Stock Market Crash? Analysts Weigh-In
  • Ethereum futures ETFs on CME begin with light trading volumes
  • FTX-SBF charges valid despite lack of US crypto laws, DOJ says – Cointelegraph
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$27,549.000.41%
  • ethereumEthereum(ETH)$1,645.92-0.18%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.12%
  • binancecoinBNB(BNB)$212.44-0.35%
  • rippleXRP(XRP)$0.534.86%
  • usd-coinUSDC(USDC)$1.000.17%
  • staked-etherLido Staked Ether(STETH)$1,644.44-0.52%
  • solanaSolana(SOL)$23.51-1.65%
  • cardanoCardano(ADA)$0.256155-1.52%
  • dogecoinDogecoin(DOGE)$0.061081-0.99%
  • tronTRON(TRX)$0.0886611.23%
  • ToncoinToncoin(TON)$1.99-1.62%
  • Wrapped stETHWrapped stETH(WSTETH)$1,864.220.34%
  • matic-networkPolygon(MATIC)$0.584.78%
  • polkadotPolkadot(DOT)$4.04-1.90%
  • litecoinLitecoin(LTC)$64.36-1.44%
  • bitcoin-cashBitcoin Cash(BCH)$231.12-3.31%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,501.000.00%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.50%
  • chainlinkChainlink(LINK)$7.570.76%
  • daiDai(DAI)$1.000.13%
  • leo-tokenLEO Token(LEO)$3.752.01%
  • avalanche-2Avalanche(AVAX)$9.754.18%
  • true-usdTrueUSD(TUSD)$1.000.14%
  • uniswapUniswap(UNI)$4.32-2.28%
  • stellarStellar(XLM)$0.1127791.50%
  • moneroMonero(XMR)$149.032.54%
  • okbOKB(OKB)$43.09-0.06%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • binance-usdBUSD(BUSD)$1.000.40%
  • ethereum-classicEthereum Classic(ETC)$15.58-3.60%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • cosmosCosmos Hub(ATOM)$7.00-2.41%
  • hedera-hashgraphHedera(HBAR)$0.048540-2.55%
  • filecoinFilecoin(FIL)$3.30-0.13%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • lido-daoLido DAO(LDO)$1.613.68%
  • internet-computerInternet Computer(ICP)$3.193.09%
  • crypto-com-chainCronos(CRO)$0.050188-0.32%
  • MantleMantle(MNT)$0.407718-0.85%
  • makerMaker(MKR)$1,428.95-0.69%
  • quant-networkQuant(QNT)$88.060.03%
  • AptosAptos(APT)$5.28-1.15%
  • vechainVeChain(VET)$0.016656-2.36%
  • optimismOptimism(OP)$1.31-2.92%
  • ArbitrumArbitrum(ARB)$0.88-3.62%
  • nearNEAR Protocol(NEAR)$1.09-1.54%
  • KaspaKaspa(KAS)$0.050311-0.84%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%