{"id":64355,"date":"2022-07-13T17:50:23","date_gmt":"2022-07-13T14:50:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64355"},"modified":"2025-09-06T14:00:37","modified_gmt":"2025-09-06T11:00:37","slug":"bitcoin-slips-below-19000-after-us-inflation-data","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-slips-below-19000-after-us-inflation-data\/","title":{"rendered":"Bitcoin slips below $19,000 after US inflation data"},"content":{"rendered":"

For June, the pace of growth in the U.S. consumer price index \u0443\u0441\u043a\u043e\u0440\u0438\u043b\u0438\u0441\u044c<\/a> from May’s 8.6% to 9.1% year over year. Against this backdrop, bitcoin briefly traded below $19,000.<\/p>\n

The gauge exceeded expectations (8.8%). On a monthly basis, the rise was 1.3% versus a forecast of 1.1%. The inflation rate was the highest since November 1981.<\/p>\n

\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d
Data: Trading Economics<\/a>.<\/figcaption><\/figure>\n

At the time of writing, the first cryptocurrency is trading above $19,330. Over the past 24 hours the asset has fallen 3% (CoinGecko<\/a>).<\/p>\n

\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d
Hourly BTC\/USD chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n

Over the last 24 hours, Ethereum fell 3.3%. At the time of writing, the coin sits around $1,050.<\/p>\n

\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d
Hourly ETH\/USD chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n

Following the leaders, all top-10 crypto assets by market capitalization moved into the red.<\/p>\n

\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d
Data: CoinGecko.<\/figcaption><\/figure>\n

Total market capitalization of the cryptocurrency market fell by 2.6%. It currently stands at $897.5 billion.<\/p>\n

According to Coinglass<\/a>, over the last hour futures positions were liquidated worth $12.7 million, over the day \u2014 $242.3 million.<\/p>\n

U.S. stock indices also reacted negatively to the news: the S&P 500 fell 0.75%, the Nasdaq Composite \u2014 0.43%. The Dow Jones Industrial Average lost 1.02%.<\/p>\n

In March 2022 the U.S. Federal Reserve (the Fed) for the first time since December 2018 raised its policy rate by 25 basis points<\/a> to 0.25-0.5%. Back then, bitcoin and the S&P 500 posted gains.<\/p>\n

In May, the Fed raised the target range of the policy rate to 0.75\u20131% per year, which surprised markets. In that context the price of the leading cryptocurrency briefly breached the $40,000 level<\/a>, but on the same day fell below $36,000<\/a>, which marked the start of a protracted correction.<\/p>\n

In June the Fed sharply raised the policy rate \u2014 by 75 basis points, to 1.5-1.75%. Bitcoin, which previously fell below the $30,000 level<\/a> on news of accelerating inflation, rebounded<\/a>.<\/p>\n

Back in the second quarter of 2022, digital gold was the worst performer in 11 years, according to Coinglass. The asset fell 56.2%, from $45,000 to $19,884.<\/p>\n

According to Galaxy Digital chief Mike Novogratz, a recession in the crypto market will last for about 18 more months<\/a>, with the sector seeing early signs of recovery once the Federal Reserve eases monetary policy.<\/p>\n

The investor Michael Burry, who warned of the 2007 housing crisis, predicted further declines in bitcoin’s price<\/a>.<\/p>\n

For commentary on how the Fed’s rate moves affect bitcoin, read the ForkLog cards<\/a>.<\/p>\n

Follow ForkLog’s bitcoin news on our Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

For June, the pace of growth in the U.S. consumer price index accelerated to 9.1% year over year. Against this backdrop, bitcoin briefly traded below $19,000.<\/p>\n","protected":false},"author":1,"featured_media":64356,"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":[480,1224],"class_list":["post-64355","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":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64355","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=64355"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64355\/revisions"}],"predecessor-version":[{"id":64357,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64355\/revisions\/64357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64356"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}