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>
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   <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>
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<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

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