Inflation
Bitcoin and U.S. Real Yield Notch Strongest Inverse Correlation in Four Months
Bitcoin (BTC) and the U.S. inflation-adjusted bond yield are again moving in opposite directions, exhibiting the strongest negative correlation in four months. Bitcoin fell over 10% last week as the yield on the 10-year inflation-indexed security rose to the highest since 2009. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Who Is the Pro-Bitcoin Candidate That Just Won Argentina's Presidential Primary?
Javier Milei, a libertarian candidate who has advocated for the elimination of the central bank and spoken favorably of Bitcoin (BTC), won the primary presidential election in Argentina. "The Hash" panel weighs in on the country's recent financial conditions and whether cryptocurrency could provide a solution to rising inflation.
U.S. July CPI Matches Estimates With 0.2% Monthly Growth
The number may decrease the chance the Fed will raise rates next month, a potential catalyst for bitcoin.
Bitcoin Traders Should Watch Wider Inflation Metrics, Not Just CPI
Wider metrics suggest a flare-up in inflation in months ahead, which may trigger a sharp repricing of interest rate expectations, bringing downside volatility to risky assets, including bitcoin.
HODLers Love to Hold Crypto, Glassnode Data Suggests
Data from Glassnode shows that bitcoin's (BTC) balance on exchanges reached a 5 year low of 2,276,878 BTC. The largest cryptocurrency by market cap is currently hovering below $30,000, as investors await U.S. inflation data scheduled for release later this week. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
First Mover Americas: Bitcoin Flirts With $30K as Traders Await CPI
The latest price moves in crypto markets in context for August 9, 2023.
CPI Preview: Bitcoin Unlikely to Get Bullish Catalyst From July Inflation Data
Markets are already expecting the Fed to refrain from more rate hikes this year and have begun pricing in rate cuts in 2024.
Fed Chair Powell Gives Update on Inflation Goal After Interest Rate Hike Decision
U.S. Federal Reserve Chair Jerome Powell spoke at a press conference on Wednesday, discussing the central bank's progress in reducing inflation and why there's likely more work ahead. "We have to get inflation down to 2% and we will," Powell said. "And we just don't see that yet."
Crypto Catalysts: Investors to Weigh Jobs, Retail Sales, Production Data for Latest Inflation Signals
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
Even as Inflation Risk Fades, Bitcoin Remains Stuck Below $31K
Wednesday's CPI report showed sizable decelerations in both overall and core U.S. inflation, which one might've thought would drive BTC's price higher.
