{"id":62754,"date":"2022-06-10T16:32:07","date_gmt":"2022-06-10T13:32:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62754"},"modified":"2025-09-05T19:52:04","modified_gmt":"2025-09-05T16:52:04","slug":"bitcoin-dips-below-30000-as-us-inflation-accelerates","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-dips-below-30000-as-us-inflation-accelerates\/","title":{"rendered":"Bitcoin dips below $30,000 as US inflation accelerates"},"content":{"rendered":"

U.S. annual inflation for May accelerated from April’s 8.3% to 8.6% \u2014 the highest since December 1981, CNBC reports citing the Labour Ministry. Against this backdrop, the price of bitcoin fell below $30,000.<\/p>\n

At the time of writing, the first cryptocurrency was trading around $29,570. In the last 24 hours the asset declined by 1.9%, according to CoinGecko<\/a>.<\/p>\n

\\\"Bitcoin
BTC\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n

Ethereum, following the leader, moved into the red zone. The 24-hour drop stood at 3.7%. The current price of the cryptocurrency is $1,722.<\/p>\n

\\\"Bitcoin
ETH\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n

U.S. stock indices also reacted to the news with declines: the S&P 500 fell 2.1%, the Nasdaq Composite \u2014 2.75%, the Dow Jones Industrial Average \u2014 1.94%.<\/p>\n

In March 2022, the U.S. Federal Reserve (Fed) for the first time since December 2018, raised the target rate<\/a> by 25 basis points to 0.25-0.5%. At that time, Bitcoin and the S&P 500 reacted with gains.<\/p>\n

In May the Fed raised the target range to 0.75\u20131% per year, surprising markets. Against this backdrop, the price of the first cryptocurrency surpassed the $40 000 level<\/a>.<\/p>\n

Earlier, BitMEX co-founder Arthur Hayes \u043d\u0430\u0437\u0432\u0430\u043b<\/a> a likely drop of the first cryptocurrency to $30,000 by the end of the second quarter of 2022 due to Nasdaq’s decline.<\/p>\n

Elon Musk \u0437\u0430\u044f\u0432\u043b\u044f\u043b<\/a> that he was hodling cryptocurrencies in anticipation of rising inflation.<\/p>\n

Subscribe to the ForkLog channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. annual inflation for May accelerated from April’s 8.3% to 8.6% \u2014 the highest since December 1981, CNBC reports citing the Labour Ministry. Against this backdrop, bitcoin fell below $30,000.<\/p>\n","protected":false},"author":1,"featured_media":62755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-62754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62754","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=62754"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62754\/revisions"}],"predecessor-version":[{"id":62756,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62754\/revisions\/62756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62755"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}