{"id":10671,"date":"2024-02-13T18:21:20","date_gmt":"2024-02-13T16:21:20","guid":{"rendered":"https:\/\/forklog.com\/en\/us-inflation-exceeds-forecasts-bitcoin-declines\/"},"modified":"2024-02-13T18:21:20","modified_gmt":"2024-02-13T16:21:20","slug":"us-inflation-exceeds-forecasts-bitcoin-declines","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-inflation-exceeds-forecasts-bitcoin-declines\/","title":{"rendered":"US Inflation Exceeds Forecasts, Bitcoin Declines"},"content":{"rendered":"<p>In January, the US inflation index <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">reached<\/a> 3.1%. This figure surpassed the forecast of 2.9% but was an improvement over the previous month&#8217;s 3.4%.<\/p>\n<p>Experts noted that a slower pace towards the 2% target could influence the <span data-descr=\"Federal Reserve System of the USA\" class=\"old_tooltip\">Fed&#8217;s<\/span> policy on the key interest rate.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: Prediction markets are now pricing-in just 4 rate cuts in 2024 after January CPI inflation hits 3.1%.<\/p>\n<p>This is a huge slide in expectations as markets were pricing-in 6 rate cuts just over a month ago, according to <a href=\"https:\/\/twitter.com\/Kalshi?ref_src=twsrc%5Etfw\">@Kalshi<\/a>.<\/p>\n<p>The most recent Fed guidance was for 3\u2026 <a href=\"https:\/\/t.co\/3TR8Vs1eIz\">pic.twitter.com\/3TR8Vs1eIz<\/a><\/p>\n<p>\u2014 The Kobeissi Letter (@KobeissiLetter) <a href=\"https:\/\/twitter.com\/KobeissiLetter\/status\/1757400037854781935?ref_src=twsrc%5Etfw\">February 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In prediction markets, expectations have reduced to four rate cuts in 2024, down from six just a month ago.<\/p>\n<p>The likelihood of the regulator deciding to cut rates in March is estimated at no more than 10%.<\/p>\n<p>Bitcoin reacted with a decline following the release of the US Bureau of Labor Statistics&#8217; inflation data.<\/p>\n<p>At the time of writing, the cryptocurrency had fallen by approximately 1.8% following the press release, failing to maintain the $49,000 level.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"207\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-2-1024x207.jpg\" alt=\"Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-2\" class=\"wp-image-225990\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-2-1024x207.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-2-300x61.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-2-768x155.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-2.jpg 1145w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Earlier, former BitMEX CEO Arthur Hayes <a href=\"https:\/\/u1f987.com\/en\/news\/arthur-hayes-predicts-bitcoin-drop-below-35000-amid-excessive-inflation\">predicted a drop in Bitcoin to $35,000<\/a> due to various factors, including Fed policy and &#8220;excessive&#8221; inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In January, the US inflation index reached 3.1%. This figure surpassed the forecast of 2.9% but was an improvement over the previous month&#8217;s 3.4%. Experts noted that a slower pace towards the 2% target could influence the Fed&#8217;s policy on the key interest rate. BREAKING: Prediction markets are now pricing-in just 4 rate cuts in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1249,1224],"class_list":["post-10671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-federal-reserve-system","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10671"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10670"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}