{"id":9729,"date":"2024-01-11T18:55:01","date_gmt":"2024-01-11T16:55:01","guid":{"rendered":"https:\/\/forklog.com\/en\/us-inflation-accelerates-as-bitcoin-ignores-economic-data\/"},"modified":"2024-01-11T18:55:01","modified_gmt":"2024-01-11T16:55:01","slug":"us-inflation-accelerates-as-bitcoin-ignores-economic-data","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-inflation-accelerates-as-bitcoin-ignores-economic-data\/","title":{"rendered":"US Inflation Accelerates as Bitcoin Ignores Economic Data"},"content":{"rendered":"<p>Annual inflation in the US accelerated to <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">3.4% in December<\/a>, surpassing the consensus forecast of 3.2% and the previous month&#8217;s figure of 3.1%.<\/p>\n<p>On a monthly basis, the consumer price index rose by 0.3%, a rate three times faster than in November. This figure also exceeded economists&#8217; expectations of 0.2%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-874.webp\" alt=\"1-874\" class=\"wp-image-223725\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.cnbc.com\/2024\/01\/11\/cpi-inflation-report-december-2023-consumer-prices-rose-0point3percent-in-december-higher-than-expected-pushing-the-annual-rate-to-3point4percent.html\">CNBC<\/a>.<\/figcaption><\/figure>\n<p>The index excluding food and energy prices increased by 0.3% from the previous month and by 3.9% compared to December last year. The previous month&#8217;s figures were 0.3% and 4%, respectively.<\/p>\n<p>Analysts had anticipated a slowdown in annual rates to 3.8% and expected monthly rates to remain at 0.3%.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Unexpectedly high consumer price index data shows that the path to a long-term return to 2% inflation is rocky, and the last mile may be difficult,&#8221;<\/em> <a href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2024-01-11\/us-cpi-report-for-december\">commented<\/a> Bloomberg economist Anna Wong.<\/p>\n<\/blockquote>\n<p>The disappointing macroeconomic data did not affect expectations of a Federal Reserve rate cut in March. The futures market believes in such a scenario with a probability of 63.3% compared to 64.7% the day before.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-690.webp\" alt=\"2-690\" class=\"wp-image-223726\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\">CME FedWatch<\/a>.<\/figcaption><\/figure>\n<p>The inflation report led to a strengthening of the US dollar and slowed the growth of stock futures and gold prices. Bitcoin ignored the macro data, reaching a new high since March 2022, exceeding $48,000.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-406.webp\" alt=\"3-406\" class=\"wp-image-223727\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/chart\/VOr1bq2L\/?symbol=BINANCE%3ABTCUSDT\" title=\"\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Market participants are focused on the start of trading for SEC-approved spot Bitcoin ETFs.<\/p>\n<p>During the pre-market session on January 11, ahead of its Nasdaq debut, the price of BlackRock&#8217;s product (IBIT) exceeded its <span data-descr=\"net asset value\" class=\"old_tooltip\">NAV<\/span> by 25.6%.<\/p>\n<p>On the evening of January 10, the SEC announced the approval of 11 applications for spot exchange-traded funds based on the first cryptocurrency.<\/p>\n<p>The approved issuers include Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity, and Franklin Templeton.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Annual inflation in the US accelerated to 3.4% in December, surpassing the consensus forecast of 3.2% and the previous month&#8217;s figure of 3.1%. On a monthly basis, the consumer price index rose by 0.3%, a rate three times faster than in November. This figure also exceeded economists&#8217; expectations of 0.2%. Data: CNBC. The index excluding [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9728,"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":[18,1224],"class_list":["post-9729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9729","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=9729"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/9728"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=9729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=9729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=9729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}