{"id":74084,"date":"2023-02-14T16:47:27","date_gmt":"2023-02-14T14:47:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74084"},"modified":"2025-09-09T18:06:35","modified_gmt":"2025-09-09T15:06:35","slug":"us-inflation-beats-expectations-bitcoin-falls","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-inflation-beats-expectations-bitcoin-falls\/","title":{"rendered":"US inflation beats expectations; Bitcoin falls"},"content":{"rendered":"

US consumer prices in January stood at<\/a> 0.5% month-on-month and 6.4% year-on-year, with the core gauge up 0.4% and 5.6% respectively. The 12-month trend matched December’s readings and beat expectations. Bitcoin’s price, after a pause, began to slide.<\/p>\n

\n
\"Advance
Monthly inflation trend. Data: Bloomberg<\/a>.<\/figcaption><\/figure>\n<\/div>\n
\"btc-69\"
15-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n

The data released confirmed the February 8 Fed chair’s thesis<\/a> by Jerome Powell that disinflation in the services sector would take time.<\/p>\n

Investors are convinced that monetary authorities do not yet have enough grounds for a pause in tightening policy.<\/p>\n

In March the Fed could raise the target range by 25 basis points to 4.75%-5% per year. A 50 basis-point move is also possible. The probability of such a move stands at 6.3%, according to the CME FedWatch tool<\/a>.<\/p>\n

At the February meeting, the rate-setting committee emphasised<\/a> that it was prepared to adjust plans for further tightening if risks arose that could derail the Fed’s objectives.<\/p>\n

A sharp rise in payrolls<\/a> in January surprised economists. It pointed to no cooling in the labor market, which could heighten inflation risks. <\/p>\n

On February 15, data on US retail sales will be released. The consensus forecast expects a 1.2% gain.<\/p>\n

A rebound after two months of sharply negative momentum could signal rising odds of a soft landing for the US economy, reinforcing the Fed’s view that the current policy stance is appropriate. A release that falls well short of expectations could spur speculation about a shift in Federal Reserve policy and support optimism in risk assets, including the cryptocurrency market.<\/p>\n

Earlier, the employment report \u00abspooked\u00bb<\/a> investors in crypto funds, triggering the first outflow in five weeks, according to CoinShares.<\/p>\n

Earlier, on the daily chart, the moving averages formed the \u00abgolden cross\u00bb<\/a> \u2014 a precursor to a positive trend.<\/p>\n

Prior to that, Glassnode stated<\/a> a transition phase from a bear market to a bull market.<\/p>\n","protected":false},"excerpt":{"rendered":"

January CPI rose 0.5% month-on-month and 6.4% year-on-year, with the core gauge up 0.4% and 5.6%, respectively. The 12-month trend matched December’s readings and beat expectations. Bitcoin’s price, after a pause, began to slide.<\/p>\n","protected":false},"author":1,"featured_media":74085,"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":[480,1249],"class_list":["post-74084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-federal-reserve-system"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74084","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=74084"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74084\/revisions"}],"predecessor-version":[{"id":74086,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74084\/revisions\/74086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74085"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}