Reserve

FOMC

Bitcoin

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-plummets-as-us-inflation-data-raises-concerns" rel="noopener noreferrer nofollow">Bitcoin Plummets as US Inflation Data Raises Concerns</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-price-surge-creates-thousands-of-new-crypto-millionaires" rel="noopener noreferrer nofollow">Bitcoin</a> experienced a significant price drop coinciding with the opening of Wall Street on March 14. The fall came in response to new US macroeconomic data that renewed fears about persistent inflation. During the day, the <a href="https://en.bitcoinhaber.net/justin-suns-strategic-moves-in-the-crypto-market" rel="noopener noreferrer nofollow">cryptocurrency</a> saw a 3.3% decrease, sliding below the $71,000 mark, and had yet to show signs of recovery at the time of reporting.</p>
<h2 id="unexpected-inflation-data-spooks-investors">Unexpected Inflation Data Spooks Investors</h2>
<p style="text-align: justify">Recent US Producer Price Index (PPI) figures exceeded expectations for February, signaling that high inflation is likely to continue. This data added to the existing concerns raised by recent unemployment claims and the Consumer Price Index (CPI), painting a challenging picture for the Federal Reserve’s policy decisions.</p>
<p style="text-align: justify">Following the release of the inflation data, financial commentator Tedtalksmacro suggested that the Federal Reserve might maintain higher interest rates for an extended period. The Federal Open Market Committee (FOMC), as per the speculation, seemed unlikely to reduce rates at its upcoming March 20 meeting. Forecasts from the CME Group’s FedWatch Tool indicated a mere 6.2% chance of an interest rate cut in the May FOMC meeting.</p>
<h2 id="market-analysts-offer-perspectives-on-bitcoin-s-volatility">Market Analysts Offer Perspectives on Bitcoin’s Volatility</h2>
<p style="text-align: justify">Prominent investor and analyst Rekt Capital took a measured approach to Bitcoin’s current price activity. He pointed out that volatility is expected near all-time highs and that the market often requires time to stabilize before continuing its trend. His statement indicated that after the turbulence settles, a phase of price discovery is likely to follow.</p>
<p style="text-align: justify">Another perspective came from investor Jelle, who noticed that Bitcoin tends to strengthen during later US trading hours despite initial weaknesses at market open. Analyst Daan Crypto Trades echoed these observations, noting that the cryptocurrency’s price fluctuations are most pronounced during US market hours, with recoveries often occurring by the session’s end and into the Asian trading session.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-plummets-as-us-inflation-data-raises-concerns" rel="noopener noreferrer nofollow">Bitcoin Plummets as US Inflation Data Raises Concerns</a></h5>

Bitcoin Plummets as US Inflation Data Raises Concerns

목차

BH NEWS

2024년 3월 14일에 게재된 다른 기사

Litecoin (LTC) Investors Drawn to Pushd (PUSHD) E-Commerce Presale Amid Bitcoin (BTC) New All-Tim...

Space and Time Launches ZK Stack Hyperchains For Verifiable Data Across Enterprises

Financial Sector Hit by 1 Million Cyberattacks in 120 Days

Memecoin Craze Continues: Investor Alert for Soaring Altcoin

Dash Empowers Merchants with ivendPay Partnership: A Leap Towards Crypto Vending Solutions

Biden Administration Proposes 30% Tax on Crypto Mining Electricity to Shape Fiscal Year 2025 Budget

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!