The highly anticipated US Consumer Price Index (CPI) data released today showed that the inflation rate for May remained unchanged at 0.3%, surpassing market expectations. Market observers eagerly awaited this crucial inflation data to gain insights into the current economic health and potential stance of the Federal Reserve's policy interest rate plans.
Following the release of the US nonfarm payrolls data last Friday, Bitcoin (BTC) maintained a downward trend, falling to the $66,000 level. However, ahead of the crucial Federal Reserve interest rate decision today, and before the release of key inflation data expected in the US, Bitcoin once again surged above $69,000.
The latest data shows that the US Consumer Price Index (CPI) for May remained unchanged at 0.3%, surpassing market expectations of a decrease to 0.1% for May. However, this story has a positive twist: although unchanged, the May CPI inflation actually decreased from 3.4% in the previous month to 3.3% on an annual basis.
The cooling of the US Consumer Price Index (CPI) inflation data has boosted investor sentiment. After the data was released, Bitcoin surged by 3.7% in the past 24 hours, with the current trading price of Bitcoin standing at $69,454.
At the same time, Ethereum has also seen an increase, rising by 2.82% in the past 24 hours. The current trading price of Ethereum is $3,623.
Last week's robust US employment data influenced investors' interest in risk assets, further boosting market sentiment. With the release of cooling inflation data, the market's attention is now shifting to the Federal Open Market Committee (FOMC) interest rate decision scheduled for later today, followed by a press conference by Federal Reserve Chair Jerome Powell.
Germany’s Federal Criminal Police (BKA) has moved more than 6,500 Bitcoins, sparking speculation of a potential sell-off. Despite a small price increase, concerns remain about the impact of government-held Bitcoin on global markets.
ZeZhengFarcaster, a decentralized social media platform on Ethereum, boasts unique features like "Frames" and blockchain-based user control, backed by figures like Vitalik Buterin. Its meteoric rise to a $1 billion valuation and recent user engagement declines prompt scrutiny over its sustainability and dependency on venture capital.
WeatherlyTrump supports moving Bitcoin mining production to the United States to increase the country's energy self-sufficiency, and stressed that this will resist the threat of central bank digital currencies.
ZeZhengBitcoin advocates push Musk for BTC payments on X; Musk favors Dogecoin for its lower fees and scalability.
ZeZhengFollowing the deadly attack in Israel by Palestinian militant group Hamas, it has put cryptocurrency’s role in terrorist financing back in the spotlight. The U.S. Treasury Department recently announced its investigation on the $165 million in cryptocurrency which the agency believed to have helped Hamas before the militant group’s Oct 7 attack against Israel.
XingChiArthur Hayes criticizes G7 central banks, advocates for continued investment in Bitcoin and altcoins. Predicts potential rally fueled by FED's dollar-yen maneuvers and anticipates rate cuts. Encourages long positions, sees cryptocurrency market poised for resurgence.
Xu LinAs anticipation mounts for US Non-Farm Employment data, Bitcoin breaks records with $37B in futures open positions. Positive sentiment prevails as long positions dominate, driving expectations for new all-time highs.
Xu LinBitcoin surges above $71K as long-term investors and whales accumulate. Institutional interest via spot ETFs and new whales drive demand. Ethereum also sees increased investor interest.
Edmund'Rich Dad Poor Dad' author Robert Kiyosaki predicts Bitcoin will hit $350K by late August 2024, driven by his distrust of US leadership. Will this forecast crash and burn like some of his previous speculations?
KikyoBitcoin surged past $69,000 late on Friday night.
BerniceMay 22 is "Bitcoin Pizza Day," commemorating the historic event in 2010 when 10,000 bitcoins were used to purchase two Papa John's pizzas. From $41 worth of pizza to $700 million in wealth, Bitcoin's price surge over the past 15 years has proven it to be the best-performing financial asset in history.
MiyukiYou not only know very well how you make money, but also why you can make this money, what kind of money you make, whose money you make, who are the people who provide you with profits, and why they provide you with profits, then you will make money steadily.
JinseFinanceBitcoin ETF inflows plummeted by 80% to $132 million on March 14, following a record-breaking Tuesday with $1.05 billion. Market volatility and regulatory concerns contribute to investor caution amid price fluctuations.
Huang BoBitcoin's price has been soaring since its launch in 2008. Early investors are now reaping returns in the millions of dollars. Nevertheless, its volatility and regulatory uncertainty remain significant risks for investors.
BerniceIn a daring 19-hour journey, a crypto trader turned $3,000 into $651,000 by strategically navigating the low-liquidity world of SNOW tokens. This rollercoaster ride, dominated by extreme volatility, serves as a cautionary tale in the speculative realm of cryptocurrency trading.
SanyaA trader turned $900 into $3.47 million in five days by trading Solana's meme token ANALOS, achieving a profit over 3,800 times their initial investment.
AlexMATIC, the native cryptocurrency of Polygon, has recently gained traction, showing a 50% increase in price surge in the last 20 days, amid the optimistic trend circling the cryptocurrency market due to the recently finished Uptober rally.
BitcoinworldAccording to Breedlove, his model places Bitcoin to trade at $12.5 million by 2031, a value equivalent to $1 million based on today’s purchasing power.
FinboldThe U.S. dollar index could rally further in the coming weeks, which is typically bad news for Bitcoin.
Cointelegraph