Clouds on the horizon grow nearer as markets prepare for more inflation cues this week. Bitcoin (BTC) starts the second week of May 2022 by bringing up bearish ghosts from its past — how much worse could the picture get for hodlers? After falling to nearly $33,000, the largest cryptocurrency is giving market participants, new…
Read more
The latest data from the Turkish Statistical Institute (TSI) shows that rising transportation and food costs were some of the key factors contributing to the surge in the country’s inflation rate to 70%.
Economic Revival Efforts Not Bearing Fruit
Rising commodity prices and increased transport costs are some of the key contributing factors behind…
Read more
BTC staged a small relief rally, but securing $41,000 is the key to determining whether or not the current sell-off has ended. Over the past three months, Bitcoin’s (BTC) daily closing price fluctuated between $35,050 and $47,550, which is a 35.7% range. Although it might seem excessive, this is not unusual, especially considering BTC’s 68%…
Read more
Inflation in the U.S. continues to remain red hot as consumer prices last month increased sharply to 8.5% in March compared to the same month last year. Metrics show the Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) spiked last month at the fastest pace since December 1981. Inflation Continues to Hammer the US…
Read more
The 16th chair of the Federal Reserve, Jerome Powell said that America’s “inflation is much too high” on Monday, and he further explained that the U.S. central bank is willing to raise rates more aggressively. Off the heels of the first benchmark interest rate increase since 2018, Powell stressed that the Fed will “take the…
Read more
Following the record 7.5% high for January, the U.S. Labor Department’s Consumer Price Index (CPI) data shows February’s CPI metrics rose to 7.9%. The CPI data published on Thursday is a new 40-year high and month over month, inflation jumped by 0.8%. President Joe Biden is blaming the inflation spike on Russia’s invasion, as he…
Read more
A grim cocktail of macro triggers converges on Bitcoin, with risk assets looking at a “rough” few days coming up, analysts warn. Bitcoin (BTC) starts a new week in the shadow of a deepening geopolitical nightmare unfolding in Ukraine. As retaliation for the Ukraine invasion and the macroeconomic consequences grow, crypto by and large is…
Read more
While the conflict in Ukraine is a hot topic, fears of rising inflation continue to haunt Americans residing in the country, as economists and analysts note U.S. inflation will likely remain high. Inflation is likely going to be worse than initially feared this year, Goldman Sachs explained in a report published on Sunday. Moreover, in…
Read more
Bitcoin’s growth has quickly outpaced Nasdaq’s in the past ten years. A potential decoupling scenario between Bitcoin (BTC) and the Nasdaq Composite can push BTC price to reach $100,000 within 24 months, according to Tuur Demeester, founder of Adamant Capital. Bitcoin outperforms tech stocks Demeester depicted Bitcoin’s growing market valuation against the tech-heavy U.S. stock…
Read more
Inflation continues to grip American wallets, according to a recent economic analysis from Moody’s Analytics, which shows inflation is likely costing the average U.S. household between $250 to $276 per month. Meanwhile, the U.S. Federal Reserve is expected to raise the benchmark interest rate in March and St. Louis Fed president James Bullard believes the…
Read more
