Notcoin

Jerome Powell

JasmyCoin

Pepe

<p class="is-style-lead">Bitcoin and other altcoin prices continued rising after the US published encouraging June inflation data.&nbsp;</p>
<p><a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a> jumped to over $59,000 on Thursday, up from last week’s low of $53,700. Other tokens like Mantra (OM), Notcoin (NOT), AAVE (AAVE), and JasmyCoin (JASMY) rose by double digits.&nbsp;</p>
<h2 class="wp-block-heading" id="us-inflation-data">US inflation data</h2>
<p>Data from the Bureau of Labor Statistics (BLS) showed that the headline consumer price index (CPI) dropped from 0.0% to -0.1% in June, which was lower than the median estimate of 0.1%.</p>
<p>The headline CPI dropped from 3.3% to 3.0%, also lower than the median estimate of 3.1%. At the same time, the core CPI dropped from 0.2% to 0.1% and from 3.4% to 3.3%.</p>
<p>These numbers indicate that inflation is moving in the right direction, which could influence the next actions of the Federal Reserve. In a statement this week, Jerome Powell noted that the bank would consider cutting rates if inflation continued falling.</p>
<p>Most economists expect the Federal Reserve to deliver its first interest rate cut in its September meeting. Additionally, high-frequency data shows that the manufacturing and non-manufacturing PMIs dropped below 50 in June.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">US CPI <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#inflation</a> came in lower than consensus forecasts across the board.<br>Monthly headline inflation for June was -0.1 (the consensus forecast was 0.1), bringing the annual measure down to 3.0% (3.1%).<br>Core came in at 0.1% (0.2%) and 3.3% (3.4%).<br>This will encourage markets to…</p>— Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1811379712675008559?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Another report by the Bureau of Labor Statistics (BLS) showed that the <a href="https://crypto.news/us-jobs-data-deals-blow-to-ethena-solana-and-eos-prices/" target="_blank" rel="noopener noreferrer nofollow">unemployment rate rose to 4.1%</a> while wage growth slowed.&nbsp;</p>
<h2 class="wp-block-heading" id="impact-on-bitcoin-mantra-and-notcoin">Impact on Bitcoin, Mantra, and Notcoin</h2>
<p>Cryptocurrencies tend to perform well when the Fed turns dovish, as seen earlier this year when Bitcoin rose to a record high while the Fed signaled potential rate cuts.</p>
<p>Interest rate cuts will likely push investors to move from safe money market funds to riskier assets like Bitcoin, Mantra, and Notcoin. Other altcoins like Ondo Finance, Near Protocol, and Pepe could also continue rising.</p>
<p>These coins could join other assets like stocks in their strong rally, with the Nasdaq 100, S&amp;P 500, and Dow Jones all jumping to record highs.</p>
<p>However, the crypto industry faces other risks that could affect prices. For example, Bitcoin’s available supply is increasing as the German government continues dumping its holdings. <a href="https://crypto.news/bitcoin-dips-below-59k-as-miners-show-signs-of-capitulation/" target="_blank" rel="noopener noreferrer nofollow">Miner capitulation</a><strong> </strong>persists, while Mt.Gox distributions remain continuing.&nbsp;</p>

Bitcoin, Mantra, Notcoin prices rise as US CPI data point to a Fed cut

विषयसूची

crypto.news

11 जुल॰ 2024 को प्रकाशित अन्य लेख

Dora Announces Progression Into A Unified Multichain and MultiVM Explorer (11 Jul)

Crypto Prices Today July 11: BTC Regains $58K, Ethereum Above $3,100

Solana ETF Deadline 2025: Unveiling Political Factors and Market Predictions

Germany Sells Most of Its Bitcoin

Will Spot Ethereum ETFs Follow The Same Process As Spot Bitcoin ETFs?

Step-by-Step Guide to Latest Airdrops

रोजाना क्रिप्टो अपडेट पाने के लिए हमारे मुफ्त न्यूजलेटर से जुड़ें!