{"id":18553,"date":"2024-11-13T16:37:21","date_gmt":"2024-11-13T14:37:21","guid":{"rendered":"https:\/\/forklog.com\/en\/us-inflation-meets-expectations-as-bitcoin-surpasses-93000\/"},"modified":"2024-11-13T16:37:21","modified_gmt":"2024-11-13T14:37:21","slug":"us-inflation-meets-expectations-as-bitcoin-surpasses-93000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-inflation-meets-expectations-as-bitcoin-surpasses-93000\/","title":{"rendered":"US Inflation Meets Expectations as Bitcoin Surpasses $93,000"},"content":{"rendered":"

In October, annual inflation in the United States reached 2.6%<\/a>, up from 2.4% the previous month. This figure aligned with market expectations of 2.6%.<\/p>\n

\"Snimok-ekrana-2024-11-13-v-17.41.57\"
5-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n
\"Snimok-ekrana-2024-11-13-v-18.52.57\"
5-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n
\"Snimok-ekrana-2024-11-13-v-19.13.35\"
5-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n

On a monthly basis, the consumer price index rose by 0.2%, matching September’s increase. The consensus forecast had anticipated a 0.2% rise.<\/p>\n

Excluding food and energy prices, the index increased by 0.3% from the previous month and by 3.3% compared to October last year. The previous report showed figures of 0.3% and 3.3% respectively. Analysts had expected September’s pace to continue.<\/p>\n

Prices for services excluding housing and energy rose by 0.31% after increases of 0.4% in September, 0.33% in August, 0.21% in July, and declines of 0.05% and 0.04% in May-June. The Fed<\/span> noted the importance of this metric in analyzing the inflation trajectory.<\/p>\n

The release of macroeconomic data boosted Bitcoin’s daily growth rate by 0.5%, reaching 3.8%. At the time of writing, the asset’s price approached $88,800. Ethereum’s rate returned to $3,200, reducing daily losses to 1.2%.<\/p>\n

\"1-1295\"
15-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n
\n

“Expectations regarding the Fed’s next interest rate decision are unlikely to depend on today’s report, as the central bank is currently more focused on employment issues,”<\/em> commented<\/a> Richard Flynn, Managing Director of Charles Schwab UK.<\/p>\n<\/blockquote>\n

Nonetheless, in the futures market, traders increased the probability of a 25 basis point rate cut at the December meeting from 58.7% to 72%.<\/p>\n

\"1-1296\"
Data: CME Fed Watch<\/a>.<\/figcaption><\/figure>\n

The Labor Department will release the report on new jobs and unemployment for November on December 6.<\/p>\n

Previously, Bernstein urged investors to add crypto assets to their portfolios “as soon as possible.” They recommended acquiring a basket of digital assets, including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE, and LINK.<\/p>\n

Former BitMEX CEO Arthur Hayes reiterated his forecast of Bitcoin reaching $1 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

In October, annual inflation in the United States reached 2.6%, up from 2.4% the previous month. This figure aligned with market expectations of 2.6%. 13 November 2024 | 17:43Update: Following the release of US inflation data, Bitcoin briefly hit $91,000, setting a new all-time high. 5-minute BTC\/USDT chart on Binance. Data: TradingView. 13 November 2024 […]<\/p>\n","protected":false},"author":1,"featured_media":18552,"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-18553","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":"42","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18553","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=18553"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18552"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}