{"id":12438,"date":"2024-04-10T16:34:35","date_gmt":"2024-04-10T13:34:35","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-falls-below-68000-amid-rising-us-inflation\/"},"modified":"2024-04-10T16:34:35","modified_gmt":"2024-04-10T13:34:35","slug":"bitcoin-falls-below-68000-amid-rising-us-inflation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-falls-below-68000-amid-rising-us-inflation\/","title":{"rendered":"Bitcoin Falls Below $68,000 Amid Rising US Inflation"},"content":{"rendered":"<p>In March, annual inflation in the US <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.toc.htm\">accelerated<\/a> to 3.5%, surpassing the forecast of 3.4% and the previous month&#8217;s figure of 3.2%.<\/p>\n<p>Excluding food and energy prices, the <span data-descr=\"consumer price index\" class=\"old_tooltip\">CPI<\/span> reached 3.8%.<\/p>\n<p>On a monthly basis, consumer inflation increased by 0.4%, mirroring the previous month&#8217;s rise.<\/p>\n<p>Matthew Miskin of John Hancock Investment Management noted that premature discussions by the <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> about cutting the key rate have led to economic easing.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/Fed?src=hash&#038;ref_src=twsrc%5Etfw\">#Fed<\/a> induced significant easing into the economy by talking about rate cuts prematurely. <\/p>\n<p>Now they are moving farther away from their <a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&#038;ref_src=twsrc%5Etfw\">#inflation<\/a> target every month. <\/p>\n<p>I think this is a good lesson to not call it quits\/celebrate before finishing a job. <a href=\"https:\/\/twitter.com\/BLS_gov?ref_src=twsrc%5Etfw\">@BLS_gov<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CPI?src=hash&#038;ref_src=twsrc%5Etfw\">#CPI<\/a> <a href=\"https:\/\/t.co\/beG9rl6KI9\">pic.twitter.com\/beG9rl6KI9<\/a><\/p>\n<p>\u2014 Matthew Miskin, CFA (@matthew_miskin) <a href=\"https:\/\/twitter.com\/matthew_miskin\/status\/1778039927004946732?ref_src=twsrc%5Etfw\">April 10, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Now they are moving farther away from their inflation target every month. I think this is a good lesson to not celebrate before finishing a job,&#8221; the expert stated.<\/p>\n<\/blockquote>\n<p>Peter Schiff, President of Euro Pacific Capital, emphasized that the index&#8217;s rise above expectations indicates insufficient rate hikes.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The hotter than expected rise in Mar. <a href=\"https:\/\/twitter.com\/hashtag\/CPI?src=hash&#038;ref_src=twsrc%5Etfw\">#CPI<\/a> proves that interest rates are still too low. More rate hikes are required to move the rate back down to 2%. But not only will the <a href=\"https:\/\/twitter.com\/hashtag\/Fed?src=hash&#038;ref_src=twsrc%5Etfw\">#Fed<\/a> not delivered the required rate hikes, it&#8217;s planning to reduce rates, fueling the <a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&#038;ref_src=twsrc%5Etfw\">#inflation<\/a> fire.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1778040190507811118?ref_src=twsrc%5Etfw\">April 10, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;To bring the CPI back to 2%, further hikes are necessary. But the Fed not only refrains from doing this, it plans to cut rates, stoking the inflation fire,&#8221; said the well-known gold advocate and Bitcoin critic.<\/p>\n<\/blockquote>\n<p>Crypto influencer Keyur Rohit predicted the impact of the data on the movement of the leading cryptocurrency minutes before the release. He considered the higher-than-expected figure a bearish signal.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">? My expectations for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> after US <a href=\"https:\/\/twitter.com\/hashtag\/CPI?src=hash&#038;ref_src=twsrc%5Etfw\">#CPI<\/a> Data \u2705<\/p>\n<p>? If < 3.4%: Bullish<br \/>\u26aa If = 3.4%: Neutral<br \/>? If > 3.4%: Bearish <a href=\"https:\/\/t.co\/pvjz2NUSBF\">pic.twitter.com\/pvjz2NUSBF<\/a><\/p>\n<p>\u2014 Keyur Rohit (@CryptoKingKeyur) <a href=\"https:\/\/twitter.com\/CryptoKingKeyur\/status\/1778036984600207520?ref_src=twsrc%5Etfw\">April 10, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The digital gold slipped below $68,000 even before the US Bureau of Labor Statistics press release. At the time of writing, Bitcoin continues its moderate decline.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"615\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-04-10_16-07-29-1024x615.png\" alt=\"BTCUSDT_2024-04-10_16-07-29\" class=\"wp-image-230268\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-04-10_16-07-29-1024x615.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-04-10_16-07-29-300x180.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-04-10_16-07-29-768x461.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-04-10_16-07-29.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart from Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Earlier, analysts at Grayscale <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-identifies-inflation-and-feds-high-rates-as-bitcoin-barriers\">identified high inflation and key rates<\/a> as major barriers to the growth of the leading cryptocurrency in the short term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In March, annual inflation in the US accelerated to 3.5%, surpassing the forecast of 3.4% and the previous month&#8217;s figure of 3.2%. Excluding food and energy prices, the CPI reached 3.8%. On a monthly basis, consumer inflation increased by 0.4%, mirroring the previous month&#8217;s rise. Matthew Miskin of John Hancock Investment Management noted that premature [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12437,"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":[480,1224],"class_list":["post-12438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12438","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=12438"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12437"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}