Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-continues-to-fluctuate-despite-low-inflation-data/" data-wpel-link="internal">Bitcoin Price Continues to Fluctuate Despite Low Inflation Data</a> 
<a href="https://en.coin-turk.com/bitcoin-experiences-major-price-drop-following-record-highs/" data-wpel-link="internal">Bitcoin</a> price continues to fluctuate despite low inflation <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>. Sales occurred in the US <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">stock markets</a>, which is not a bad surprise since it broke the all-time record by exceeding 5600 points this week. However, BTC follows the decline without following the rise. The price has dropped to the threshold of $57,000. 
<h2 style="text-align: justify" id="fed-interest-rate-announcements">Fed Interest Rate Announcements</h2> 
At the time of writing, Fed member Daly said things that closely concern crypto investors. Although the inflation data in the first quarter was terrible, two things happened recently. Firstly, the last two inflation data were quite good, and today’s data came below expectations. The second important issue is that the non-farm employment data was significantly revised downwards for the previous few months, meaning that we understood there was not as much vitality in the employment front as exaggerated. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-369848 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/fedwatch-faiz-yorum.png" alt="" width="782" height="633"> 
Now, Fed member Daly made the following statements, which we have summarized below: 
<ul style="text-align: justify"> 
 <li>Many of us talking about the labor market is a significant signal from the Fed.</li> 
 <li>We need more information to take the next step precisely.</li> 
 <li>Housing prices are falling, but the lack of supply means the process is slower than in history.</li> 
 <li>The decline in non-housing super-core inflation is pleasing.</li> 
 <li>We are at a point where the additional labor market slowdown is more likely to lead to an increase in unemployment.</li> 
 <li>The labor market has softened but is still strong.</li> 
 <li>Some policy adjustments will probably be necessary.</li> 
 <li>The recent inflation data is reassuring, but progress is uneven.</li> 
 <li>My expectation is that inflation will gradually decrease, and the labor market will gradually slow down.</li> 
 <li>The economy seems to be on a path where one or two rate cuts this year would be roughly appropriate.</li> 
</ul> 
After the negative data in the first quarter, it has become harder to convince the Fed, but two rate cuts for this year seem certain unless we see surprisingly bad data. Cryptocurrencies will want to price this in, albeit with a delay. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-continues-to-fluctuate-despite-low-inflation-data/" data-wpel-link="internal">Bitcoin Price Continues to Fluctuate Despite Low Inflation Data</a></h5>

Bitcoin Price Continues to Fluctuate Despite Low Inflation Data

Tabla de contenidos

COINTURK NEWS

Otros artículos publicados el 11 jul 2024

PEPE on Track to Erase One Zero, Volume Needs Fresh Trigger

Notcoin Teams Up with 1inch and Sign for Triangle Accelerator

BlockDAG’s Major Team Reveal Primed to Ignite a 40% Price Spike As Filecoin and Dogwifhat Prices ...

JP Morgan Predicts Cryptocurrency Price Recovery in August

Ethereum Price Sets Sights on Upside Break: Indicators Turn Green

Odds of a BONK rally amidst the 84B token burn proposal are…

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!