Inflation Financial News

Now, bitcoin is at the doorstep of $100,000 and investors do not appear to be phased by gravity or any cautionary tales of the cryptocurrencies history of volatility.

Bitcoin traded slightly higher at $97,434 on Tuesday, still down over $6,400 from last week's all-time high of $103,900, ahead of key U.S. inflation data later in the day, which is expected to provide insights into future rate trajectories. As of 10:46 am IST, Bitcoin was up 0.8%, trading at $97,434, while Ethereum fell 1.1% to $3,664. During the session, BTC reached a high of $98,270 and a low of $94,321.

Semler Scientific, a Nasdaq-listed healthcare technology company based in California, continues to accumulate Bitcoin ( BTC ). According to the company’s press release from August 5, the firm purchased additional 101 BTC for approximately $6 million.

Bitcoin touched a one-month low as outflows from digital-asset investment products and the prospect of higher-for-longer US borrowing costs sapped the cryptocurrency market. The largest digital asset shed as much as 2.7% on Tuesday, reaching a level last seen in mid-May, before paring some of the drop to trade at $65,266 as of 8:04 a.m. in New York. Smaller tokens such as Ether, Solana and Dogecoin also sank.

10x Research Head Researcher Markus Thielen, the analyst who predicted the pre-halving Bitcoin all-time high, cited a June CPI reading of ‘3.3% or lower’ on May 30 as critical for a new all-time high.

Japanese Yen has set off alarms in the world of international finance and monetary policy. For the first time since 1990, the yen has weakened past the 160 level against the U.S. dollar, representing a staggering 20% loss in purchasing power over just the last year. This historic slide begs the question — is the yen acting as the proverbial «canary in the mine», providing an early warning sign of deeper systemic risks brewing in the global monetary system? The crisis facing the yen stems from a confluence of factors that have pushed the Bank of Japan into an economic policy corner. With a debt-to-GDP ratio of over 260%, among the highest in the world, Japan has been effectively locked into keeping interest rates at ultra-low levels, near zero, for years. Even as inflationary pressures have built, the BOJ has resisted aggressive rate hikes for fear of making their enormous debt burden even more unmanageable.

Analysts at cryptocurrency exchange Bitfinex predict the price of Bitcoin could consolidate for up to two months post-halving.

Bitcoin, Ethereum, BNB, XRP, Shiba Inu, Tron, and Chainlink recorded gains, trading up to 3% higher.

Bitcoin’s inflation rate has reached a new milestone, recording an all-time low of approximately 1.74%, just days after the latest Bitcoin halving. 

The U.S. budget deficit widened to $1.7 trillion in fiscal year 2023 and is on track to reach $2.6 trillion by 2034, according to the Congressional Budget Office. U.S. government debt held by the public, meanwhile, is on pace to reach a record 106% of gross domestic product (GDP) in 2028, up from 97% in fiscal year 2023. It has soared to $27 trillion from $17 trillion in early 2020 and $5 trillion in 2007.

10x Research Founder Markus Thielen who predicted Bitcoin’s recent pre-halving rally to all-time highs has turned bearish on risk assets such as technology stocks and cryptocurrencies.

According to Grayscale, recent inflation figures may have a short-term negative impact on crypto, but continuous inflation will ultimately increase sentiment towards cryptocurrency.

JPMorgan CEO Jamie Dimon warned his fellow shareholders of increased U.S. inflation due to “a growing need for increased spending” in his annual shareholder letter published on Monday.

Bestselling author of ‘Rich Dad Poor Dad,’ Robert Kiyosaki, urged followers on Monday to purchase Bitcoin (BTC) ahead of the April halving event.

US Presidential Candidate Robert F. Kennedy Jr. has hailed cryptocurrencies as the best hedge against inflation. 

Megan Greene (pictured), said that inflation is above target in both countries, however, the issue is of ‘greater concern’ in the UK.

'What is required from our leaders are some genuine policies to be able to generate sustainable growth, which benefits the wider economy. Failing which, the image of the mammoth stuck in the La Brea Tar Pits creates the perfect analogy.'

SAINTS noted the share price return had been generally affected by the broadening of discounts that is common among investment trusts currently.

The proportion of investors expecting a weaker economy in the next 12 months decreased to a net 25%, from January’s 40%, the survey found.

'Headline CPI inflation is running slightly below the BoE’s forecasts over the last few quarters.'

According to the Bureau for Labor Statistics, the US Consumer Price Index fell to an annual rate of 3.1% in January, down from 3.4% in December. However, this figure came in higher than the 2.9% anticipated by economists.