Crypto Update | Bitcoin's Rally and its Relationship With Inflation

The latest price moves and insights with Helene Braun and Marc Chandler, Chief Market Strategist at Bannockburn Global Forex.

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On "Markets Daily," Chief Market Strategist at Bannockburn Global Forex, Marc Chandler, joins Markets Daily with insight on the recent consumer price index (CPI) report and its implications for the market, particularly for Bitcoin and other cryptocurrencies. The CPI report showed higher-than-expected inflation rates, leading to a rise in US interest rates and a decline in risk assets, including crypto. They also touch on the US jobs report and its impact on interest rates.

Takeaways |

The CPI report showed higher-than-expected inflation rates, leading to a decline in risk assets, including Bitcoin and other cryptocurrencies.
The US jobs report, which surpassed expectations, signals a robust economy but raises concerns about interest rates.
The relationship between Bitcoin and inflation is questioned, with the guest suggesting that Bitcoin's recent rally is driven more by the advent of ETFs and speculative demand.
The impact of the halving on crypto prices is anticipated to be slightly weaker this year due to the shock to supply caused by ETFs.
The potential for new record highs in Bitcoin depends on market participants' interpretation of the current consolidation pattern and their confidence in Fed cuts.

LINKS |

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Bannockburn Global Forex

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This episode was hosted by Helene Braun. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.

HOSTS

Helene Braun

Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

Jennifer Sanasie

Jennifer Sanasie is an executive producer and senior anchor at CoinDesk, with over a decade of journalism experience across the U.S., Canada, and South Africa. Beyond media, she has worked closely with Web3 companies on marketing, content, and business strategy.

Jennifer holds an MBA from the Rotman School of Management, a Master of Laws in Innovation and Technology from the University of Toronto, a BA in Media Studies from the University of Guelph, and a Journalism Diploma from Humber College.

She owns BTC, ETH, SOL, USDC, USDT, G7, and DCNT. She also holds a mix of NFTs, altcoins and memecoins worth under $1,000.