TrenddingTopic
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As of today, the maximum drop in Bitcoin from the all-time high price is 23.4%, but it's worth remembering how often we've gotten a correction in previous bull markets 📉
In the 2016-2018 bull market alone, there have been as many as six drawdowns of ~30%, so it's easy to understand why many treat every decline as an opportunity to buy more coins at cheap prices 🛒
@MKSaaB Follow Me For More Information,
#BTC #fomc
#TrenddingTopic
As of today, the maximum drop in Bitcoin from the all-time high price is 23.4%, but it's worth remembering how often we've gotten a correction in previous bull markets 📉
In the 2016-2018 bull market alone, there have been as many as six drawdowns of ~30%, so it's easy to understand why many treat every decline as an opportunity to buy more coins at cheap prices 🛒
@MKSaaB Follow Me For More Information,
#BTC #fomc
#TrenddingTopic
🚨The printer is working🌟🌟
Imagine, in just two days, 2B$ billion USDT dollars were minted by the Tether treasury 🤯
Chart showing every time new USDT coins are minted, the price of Bitcoin increases 🚀
6B$ billion dollars were minted last month + 2B$ billion over the past two days.🤑🤑🤑#Memecoins
Fasten our belts, is there an upcoming rise?
I expect yes 👀🪙🪙🪙#TrenddingTopic
Imagine, in just two days, 2B$ billion USDT dollars were minted by the Tether treasury 🤯
Chart showing every time new USDT coins are minted, the price of Bitcoin increases 🚀
6B$ billion dollars were minted last month + 2B$ billion over the past two days.🤑🤑🤑#Memecoins
Fasten our belts, is there an upcoming rise?
I expect yes 👀🪙🪙🪙#TrenddingTopic
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Binance News
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Decentralized Exchange Uniswap's Historical Trading Volume Surpasses $2 Trillion
According to PANews, data compiled by Zach Wong, the Strategy and Operations Director of Uniswap, reveals that the decentralized exchange Uniswap's historical trading volume has exceeded $2 trillion. This milestone was achieved in five and a half years since its launch in November 2018. In comparison, Uniswap's $2 trillion trading volume surpasses the Gross Domestic Product (GDP) of Australia, Brazil, and South Korea.
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Onchain Rewards & Much More Benefits To Wallet Users
Input your gmail.
#Nonfarm #waitlist #TrenddingTopic
Join Floor Wallet Beta Early Access
https://floornfts.io/wallet?ref_id=6IJWC4DJK
Onchain Rewards & Much More Benefits To Wallet Users
Input your gmail.
#Nonfarm #waitlist #TrenddingTopic
As of today, the maximum drop in Bitcoin from the all-time high price is 23.4%, but it's worth remembering how often we've gotten a correction in previous bull markets 📉
In the 2016-2018 bull market alone, there have been as many as six drawdowns of ~30%, so it's easy to understand why many treat every decline as an opportunity to buy more coins at cheap prices 🛒
#TrenddingTopic
In the 2016-2018 bull market alone, there have been as many as six drawdowns of ~30%, so it's easy to understand why many treat every decline as an opportunity to buy more coins at cheap prices 🛒
#TrenddingTopic
What is happening to BTC?🙊#Writing2Earn
💥💥💥
Bitcoin (BTC), the pioneer of cryptocurrencies, has witnessed significant fluctuations over time. Here are some key insights:
Price Movement:
1 day: Bitcoin experienced a -4.93% decline.1 week: The price dropped by -5.20%.1 month: A positive trend of 6.81% was observed.6 months: Remarkably, the value surged by 138.45%.Year to date: A substantial growth of 56.79% occurred.1 year: The price soared by 135.13%.5 years: Over this period, Bitcoin skyrocketed by an astonishing 1232.40%.All time: The cumulative growth stands at an astounding 607771.56%1.
Market Capitalization:
Current market cap: $1.30 trillion (fully diluted market cap: $1.39 trillion).24-hour trading volume: $43.22 billion.
Volume-to-market cap ratio: 0.0308.All-time high: $73,794.Circulating supply: 19.67 million BTC.
Max supply: 21.00 million BTC1.
Bitcoin’s Significance:
Bitcoin remains the most traded cryptocurrency globally.
It was the first digital coin, paving the way for an entirely new asset class.
Advocates believe it could revolutionize the global financial system, although this remains speculative1.
Bitcoin’s journey from its inception to its current status as a financial disruptor has been nothing short of remarkable. Whether it will fulfill its potential as a transformative force remains to be seen, but its impact on the world of finance is undeniable.
#write2toearn #TrenddingTopic #BTC 💥💥💥
💥💥💥
Bitcoin (BTC), the pioneer of cryptocurrencies, has witnessed significant fluctuations over time. Here are some key insights:
Price Movement:
1 day: Bitcoin experienced a -4.93% decline.1 week: The price dropped by -5.20%.1 month: A positive trend of 6.81% was observed.6 months: Remarkably, the value surged by 138.45%.Year to date: A substantial growth of 56.79% occurred.1 year: The price soared by 135.13%.5 years: Over this period, Bitcoin skyrocketed by an astonishing 1232.40%.All time: The cumulative growth stands at an astounding 607771.56%1.
Market Capitalization:
Current market cap: $1.30 trillion (fully diluted market cap: $1.39 trillion).24-hour trading volume: $43.22 billion.
Volume-to-market cap ratio: 0.0308.All-time high: $73,794.Circulating supply: 19.67 million BTC.
Max supply: 21.00 million BTC1.
Bitcoin’s Significance:
Bitcoin remains the most traded cryptocurrency globally.
It was the first digital coin, paving the way for an entirely new asset class.
Advocates believe it could revolutionize the global financial system, although this remains speculative1.
Bitcoin’s journey from its inception to its current status as a financial disruptor has been nothing short of remarkable. Whether it will fulfill its potential as a transformative force remains to be seen, but its impact on the world of finance is undeniable.
#write2toearn #TrenddingTopic #BTC 💥💥💥
As spot Bitcoin ETFs return to net daily outflows there is blood in the streets today after BTC dropped to 65k, a lot of altcoins have lost 1/4 of their price. The total liquidated positions of traders exceed $484 million 🩸
Binance has appointed its first inaugural board of directors, which includes three independent directors and four internal executives 🤝
Bitcoin mining businesses generated their highest-ever monthly revenue in March, raking in over $2 billion in block rewards and transaction fees ⛏
Rumors: Facebook gave Netflix access to user’s private messages in exchange for their watch history. Moreover, the video streaming platform allegedly paid over $100 million to Facebook 😨
#TrenddingTopic
Binance has appointed its first inaugural board of directors, which includes three independent directors and four internal executives 🤝
Bitcoin mining businesses generated their highest-ever monthly revenue in March, raking in over $2 billion in block rewards and transaction fees ⛏
Rumors: Facebook gave Netflix access to user’s private messages in exchange for their watch history. Moreover, the video streaming platform allegedly paid over $100 million to Facebook 😨
#TrenddingTopic
The funding rate on BTC futures has reached its lowest level in recent weeks, and with the price back above $70,000, this is a bullish signal, because the higher the funding rate goes the less likely it is for a price to go up without a correction 💁♀️
Bitfinex Securities is launching a $6.25 million tokenized debt issue to construct a Hampton by Hilton hotel complex at El Salvador International Airport 🏨
A Montenegrin court once again approved the extradition of Do Kwon, leaving the decision to the Justice Minister, who has repeatedly sought Do Kwon's extradition to the United States ⚖️
Paraguay’s lawmakers have paused progress on a crypto mining ban and now considering the benefits of selling excess energy from its Itaipu hydropower plant to miners instead of exporting it to Brazil and Argentina 🔌
🔹 Last 24 hours top 3 gainers:
Bittensor - $760.38 (↑7.92%)
NEO - $23.1 (↑18.20%)
JasmyCoin - $0.024 (↑18.80%)
#TrenddingTopic
Bitfinex Securities is launching a $6.25 million tokenized debt issue to construct a Hampton by Hilton hotel complex at El Salvador International Airport 🏨
A Montenegrin court once again approved the extradition of Do Kwon, leaving the decision to the Justice Minister, who has repeatedly sought Do Kwon's extradition to the United States ⚖️
Paraguay’s lawmakers have paused progress on a crypto mining ban and now considering the benefits of selling excess energy from its Itaipu hydropower plant to miners instead of exporting it to Brazil and Argentina 🔌
🔹 Last 24 hours top 3 gainers:
Bittensor - $760.38 (↑7.92%)
NEO - $23.1 (↑18.20%)
JasmyCoin - $0.024 (↑18.80%)
#TrenddingTopic
Hedge funds currently hold record net short positions in BTC futures. This doesn't necessarily mean funds are shorting the market, most of this short exposure is likely a part of a delta-neutral position with spot BTC bags 🛒
Crypto market maker GSR has obtained the major payment institution license from the Monetary Authority of Singapore 📄
The creators of the Solana meme coin with a very fitting name "CONDO∆∆" have rugged their holders for $906k 🤦♀️
Fed Chair Powell emphasizes that more evidence of weakening inflation is needed before cutting rates. It looks like the next session will be the same as the last one 🧐
🔹 Last 24 hours top 3 gainers:
Bitcoin Cash - $677.71 (↑11.28%)
Bitcoin SV - $98.17 (↑11.46%)
Chiliz - $0.143 (↑5.87%)
#TrenddingTopic
Crypto market maker GSR has obtained the major payment institution license from the Monetary Authority of Singapore 📄
The creators of the Solana meme coin with a very fitting name "CONDO∆∆" have rugged their holders for $906k 🤦♀️
Fed Chair Powell emphasizes that more evidence of weakening inflation is needed before cutting rates. It looks like the next session will be the same as the last one 🧐
🔹 Last 24 hours top 3 gainers:
Bitcoin Cash - $677.71 (↑11.28%)
Bitcoin SV - $98.17 (↑11.46%)
Chiliz - $0.143 (↑5.87%)
#TrenddingTopic
FED Chair Jerome Powell says: "Recent data shows lack of further progress on inflation" 🗣
The market's expectation of the probability of a Fed rate cut decreases with each statement from Fed officials
On April 9, the odds that the feds would lower the rate by 0.25% were estimated at 56.07%, today that number is 15% 📊
#TrenddingTopic
The market's expectation of the probability of a Fed rate cut decreases with each statement from Fed officials
On April 9, the odds that the feds would lower the rate by 0.25% were estimated at 56.07%, today that number is 15% 📊
#TrenddingTopic
The new crypto drama just dropped 🍿
The project called ZKasino announced they will convert $30M worth of ETH deposited by users to their native token on the newly launched chain.
The problem is that users had no idea that the project team was planning to do this, it was said that the ETH could be bridged 1:1 after the launch.
Drama erupted on Twitter, with the project team being accused of fraud, team members are trying to defend themselves, but so far it's not looking good 😕
#TrenddingTopic
The project called ZKasino announced they will convert $30M worth of ETH deposited by users to their native token on the newly launched chain.
The problem is that users had no idea that the project team was planning to do this, it was said that the ETH could be bridged 1:1 after the launch.
Drama erupted on Twitter, with the project team being accused of fraud, team members are trying to defend themselves, but so far it's not looking good 😕
#TrenddingTopic
📉🔍 Bitcoin's Recent Decline: Blame it on Historical Open Interest Peaks?$📈💡
Could the surge in Bitcoin Open Interest be the culprit behind the recent downturn? Let's delve into the details:
- Understanding Open Interest: 🔄 Bitcoin Open Interest represents the total number of open futures contracts on derivatives exchanges, encompassing both long and short positions.
- Historical Patterns: 📊 Previous significant corrections occurred when Open Interest surpassed $13 billion. In 2021, Bitcoin's price peaked at $64,000 and $69,000, coinciding with Open Interest exceeding this threshold.
- Déjà Vu?🔄 It seems we're witnessing a potential third instance of this phenomenon.
Conclusion:
- Healthy Corrections: 💧 To sustain a robust uptrend, it's essential to liquidate over-accumulated leveraged positions, both long and short.
- Market Dynamics: 💰 Increasing Open Interest signals heightened liquidity, volatility, and derivatives market attention. While it may bolster the current price trend, excessive accumulation necessitates inevitable liquidations.
Keep an eye on Open Interest trends—it's a pivotal factor in understanding Bitcoin's market dynamics. 📈🔍 #Bitcoin #OpenInterest #MarketAnalysis 📊$BTC #BTCTo1Million #BTC\USD #TrendingPredictions #TrenddingTopic
Could the surge in Bitcoin Open Interest be the culprit behind the recent downturn? Let's delve into the details:
- Understanding Open Interest: 🔄 Bitcoin Open Interest represents the total number of open futures contracts on derivatives exchanges, encompassing both long and short positions.
- Historical Patterns: 📊 Previous significant corrections occurred when Open Interest surpassed $13 billion. In 2021, Bitcoin's price peaked at $64,000 and $69,000, coinciding with Open Interest exceeding this threshold.
- Déjà Vu?🔄 It seems we're witnessing a potential third instance of this phenomenon.
Conclusion:
- Healthy Corrections: 💧 To sustain a robust uptrend, it's essential to liquidate over-accumulated leveraged positions, both long and short.
- Market Dynamics: 💰 Increasing Open Interest signals heightened liquidity, volatility, and derivatives market attention. While it may bolster the current price trend, excessive accumulation necessitates inevitable liquidations.
Keep an eye on Open Interest trends—it's a pivotal factor in understanding Bitcoin's market dynamics. 📈🔍 #Bitcoin #OpenInterest #MarketAnalysis 📊$BTC #BTCTo1Million #BTC\USD #TrendingPredictions #TrenddingTopic
We’ve had euphoria at 70k and "smart money" whales were taking profits. We formed a consolidation range and now, we are at its lows 🛒
If you believe Bitcoin will hold — now is the time to keep believing. Otherwise, we've got a bit of a shake-out ahead of us 😬
#TrenddingTopic
If you believe Bitcoin will hold — now is the time to keep believing. Otherwise, we've got a bit of a shake-out ahead of us 😬
#TrenddingTopic
THINK SMART
This is how the next 6 months in a crypto bull market can change your life.
Here is an 8 step strategy.
It’s simple.
1️⃣ Stack loads of cash.
2️⃣ Don’t buy $BTC or $ETH
3️⃣ Buy new coins (less than 2 years old)
4️⃣ Buy small cap coins (less than $500mill Market Cap)
5️⃣ Buy solid coins (In the field of AI, Data, Privacy, Gaming, ZK)
6️⃣Do NOTHING, be patient and wait.
7️⃣ Make 10-20x returns in the bull run.
8️⃣ Sell wen it gets popular
That’s it!
This is a strategy which will make more by 2025.
I’ve done it before and will do it again.
#InvestingSafety #TrenddingTopic #BullorBear
#Altcoinseason2024 #AltcoinStrategies
This is how the next 6 months in a crypto bull market can change your life.
Here is an 8 step strategy.
It’s simple.
1️⃣ Stack loads of cash.
2️⃣ Don’t buy $BTC or $ETH
3️⃣ Buy new coins (less than 2 years old)
4️⃣ Buy small cap coins (less than $500mill Market Cap)
5️⃣ Buy solid coins (In the field of AI, Data, Privacy, Gaming, ZK)
6️⃣Do NOTHING, be patient and wait.
7️⃣ Make 10-20x returns in the bull run.
8️⃣ Sell wen it gets popular
That’s it!
This is a strategy which will make more by 2025.
I’ve done it before and will do it again.
#InvestingSafety #TrenddingTopic #BullorBear
#Altcoinseason2024 #AltcoinStrategies
⚡️ Whales buying hard while it is cheap!
Only from the 1st April around $4 billion $USDT were printed (see the picture below 👇) . And most of this money flows into exchanges hot wallets (see the picture below 👇).
💱 Remember, I have been telling that whales are buying hard. They enjoy the fact that they can buy #bitcoin not by$73K and higher but at the level of $60K-$67K. For them, minor fluctuations of #crypto is not a big deal. They will buy even more...
💡Just imagine even before halving miners can't produce enough #BTC for them to buy (see the picture below 👇). And of course they have to buy from market, and the amount might grow significantly, which can easily create $BTC scarcity!
🤔 Are you selling your $BTC ?
p.s as I am always saying there are no 100% situations in crypto, as we seen yesterday world economical and political situation influences markets a lot. So it is always good to take profit from time to time and manage your risks.
🙏If you like my content, support, tips, likes and subscriptions are appreciated. Much more interesting content are coming!
Trade smart,
Stay safe!
#HOTTRENDS
#Write2Earn #TrenddingTopic
Only from the 1st April around $4 billion $USDT were printed (see the picture below 👇) . And most of this money flows into exchanges hot wallets (see the picture below 👇).
💱 Remember, I have been telling that whales are buying hard. They enjoy the fact that they can buy #bitcoin not by$73K and higher but at the level of $60K-$67K. For them, minor fluctuations of #crypto is not a big deal. They will buy even more...
💡Just imagine even before halving miners can't produce enough #BTC for them to buy (see the picture below 👇). And of course they have to buy from market, and the amount might grow significantly, which can easily create $BTC scarcity!
🤔 Are you selling your $BTC ?
p.s as I am always saying there are no 100% situations in crypto, as we seen yesterday world economical and political situation influences markets a lot. So it is always good to take profit from time to time and manage your risks.
🙏If you like my content, support, tips, likes and subscriptions are appreciated. Much more interesting content are coming!
Trade smart,
Stay safe!
#HOTTRENDS
#Write2Earn #TrenddingTopic
Iran sent a message to the United States: if the US gets involved in the fighting between Israel and Iran, US forces in the region will be attacked 🇺🇸
Right now northern Israel is being attacked from the territory of Lebanon likely by Hezbollah terrorists 🇱🇧
Some are speculating that this influx of rockets is to weaken the air defense ahead of an attack by Iran 🇮🇷
Israel and the US think an Iranian attack would include the launch of ballistic missiles, cruise missiles, and attack drones from Iran to Israeli territory 🇮🇱
Iran officials want to retaliate against Israel for an airstrike that killed a top Iranian general in Damascus last week. If the conflict begins to expand across the Middle East, there are risks of a significant rise in oil prices 🛢
#TrenddingTopic
Right now northern Israel is being attacked from the territory of Lebanon likely by Hezbollah terrorists 🇱🇧
Some are speculating that this influx of rockets is to weaken the air defense ahead of an attack by Iran 🇮🇷
Israel and the US think an Iranian attack would include the launch of ballistic missiles, cruise missiles, and attack drones from Iran to Israeli territory 🇮🇱
Iran officials want to retaliate against Israel for an airstrike that killed a top Iranian general in Damascus last week. If the conflict begins to expand across the Middle East, there are risks of a significant rise in oil prices 🛢
#TrenddingTopic
Random Thought, 🤖Random Analysis.👀
⭐In recent years, bitcoin and crypto market development has been noticeable. After a few years of experience, I predict what trends or industry developments will come in the future market. And you will benefit from these trending vibes.
So today, I will discuss Bitcoin's halving price and return and some trending market growth opportunities.💰
The last 3 halves taught us that the market cycle is crucial to making money. Also, we will note how much gain there will be after bitcoin halving. We should go to the moon this time.🚀
1st Bitcoin halving date🗓️ November 28, 2012 , Reward 💰reduced from 50 BTC to 25 BTC.During that Halving time, the Bitcoin Price was $13. After halving, BTC reached ATH $1100+. Return almost 84X.🚀
2nd Bitcoin halving date🗓️July 9, 2016, Reward 💰reduced from 25 BTC to 12.5 BTC.During that Halving time, the Bitcoin Price was $644. After halving, BTC reached ATH $19000. Return almost 30X.🚀
3rd Bitcoin halving date🗓️ May 11, 2020 , Reward 💰reduced from 50 BTC to 25 BTC.During that Halving time, the Bitcoin Price was $9000. After halving, BTC reached ATH $69000. Return almost 8X.🚀
4th Bitcoin halving date, 19 April 2024, is only 12 days away. Let's see what happens.? 🔥
The market is volatile, ✨💰but there are still some opportunities, and Bitcoin is acting sideways. Some analysts say the price should drop slightly after halving, but it's the best time to invest your money. It's not now, but when the Bitcoin price range is less than $58000.
Also, some trend projects are beating very strongly, so focus and diversify your investment on projects such as Layer One + Two, AI, RWA + Infrastructure, Meme + Defi. But it would be best if you always focused on trend projects on crypto. You get good opportunities to double your investment.
Please make your investment wisely. I am not your financial advisor. Also, I share random thoughts because we love crypto.
#bitcoin #BitcoinHalvingDrama #BitcoinAwareness #TrenddingTopic #BTCHalvingApril2024
⭐In recent years, bitcoin and crypto market development has been noticeable. After a few years of experience, I predict what trends or industry developments will come in the future market. And you will benefit from these trending vibes.
So today, I will discuss Bitcoin's halving price and return and some trending market growth opportunities.💰
The last 3 halves taught us that the market cycle is crucial to making money. Also, we will note how much gain there will be after bitcoin halving. We should go to the moon this time.🚀
1st Bitcoin halving date🗓️ November 28, 2012 , Reward 💰reduced from 50 BTC to 25 BTC.During that Halving time, the Bitcoin Price was $13. After halving, BTC reached ATH $1100+. Return almost 84X.🚀
2nd Bitcoin halving date🗓️July 9, 2016, Reward 💰reduced from 25 BTC to 12.5 BTC.During that Halving time, the Bitcoin Price was $644. After halving, BTC reached ATH $19000. Return almost 30X.🚀
3rd Bitcoin halving date🗓️ May 11, 2020 , Reward 💰reduced from 50 BTC to 25 BTC.During that Halving time, the Bitcoin Price was $9000. After halving, BTC reached ATH $69000. Return almost 8X.🚀
4th Bitcoin halving date, 19 April 2024, is only 12 days away. Let's see what happens.? 🔥
The market is volatile, ✨💰but there are still some opportunities, and Bitcoin is acting sideways. Some analysts say the price should drop slightly after halving, but it's the best time to invest your money. It's not now, but when the Bitcoin price range is less than $58000.
Also, some trend projects are beating very strongly, so focus and diversify your investment on projects such as Layer One + Two, AI, RWA + Infrastructure, Meme + Defi. But it would be best if you always focused on trend projects on crypto. You get good opportunities to double your investment.
Please make your investment wisely. I am not your financial advisor. Also, I share random thoughts because we love crypto.
#bitcoin #BitcoinHalvingDrama #BitcoinAwareness #TrenddingTopic #BTCHalvingApril2024
Crypto Market on Edge as March CPI Data Shows Inflationary Rebound
The cryptocurrency market is facing potential headwinds today after the Bureau of Labor Statistics released the March Consumer Price Index (CPI) data. The report revealed a higher-than-expected inflation rate, raising concerns about the Federal Reserve's monetary policy and potentially impacting crypto prices.
Headline CPI Exceeds Forecasts: The headline CPI for March came in at 3.5%, exceeding analyst expectations of 3.2%. This marks an increase from the 3.1% reported in February, suggesting a slight acceleration in inflation. The core CPI, which excludes volatile food and energy prices, also rose to 3.3% from 3.1% in the previous month.
Market Volatility Anticipated: This inflationary trend could trigger volatility in the crypto market. Historically, rising inflation has led investors to seek safe-haven assets like gold, putting downward pressure on riskier assets like cryptocurrencies.
Focus on the Fed's Response: The Federal Reserve closely monitors inflation data and uses it to guide its monetary policy decisions. A sustained rise in inflation might prompt the Fed to adopt a more hawkish stance, potentially leading to interest rate hikes. Higher interest rates generally strengthen the US dollar, which can weaken riskier assets like crypto.
Bitcoin Price at Risk and the Halving Bull Cycle: Today's CPI data could lead to a decline in Bitcoin's price, which is currently hovering around $70,000. If inflation fears escalate, Bitcoin could potentially drop below the psychologically important $60,000 barrier in the short term. However, some analysts point to the upcoming Bitcoin halving, scheduled for roughly May 2024, as a potential countervailing force. Historically, these halving events, which cut the amount of new Bitcoin entering circulation in half, have been followed by bull runs in the crypto market. It remains to be seen whether this pattern will hold true in the current economic climate.
Long-Term Impact Uncertain: While the near-term outlook for crypto appears volatile, the long-term relationship between CPI and crypto remains a topic of debate. Some experts believe that cryptocurrencies can act as a hedge against inflation, similar to gold. However, the long-term success of this theory depends on the continued adoption and development of the crypto market.
Looking Beyond the Headline Numbers: Investors should delve deeper than the headline CPI figure. The core CPI, which excludes food and energy prices, can offer a clearer picture of underlying inflationary trends. Additionally, it's crucial to monitor the Federal Reserve's response and its potential impact on the US dollar's value. By comprehensively analyzing the economic data and policy decisions, investors can make informed choices regarding their crypto holdings.#cpi #TrenddingTopic $BTC #TrendingTopic
Headline CPI Exceeds Forecasts: The headline CPI for March came in at 3.5%, exceeding analyst expectations of 3.2%. This marks an increase from the 3.1% reported in February, suggesting a slight acceleration in inflation. The core CPI, which excludes volatile food and energy prices, also rose to 3.3% from 3.1% in the previous month.
Market Volatility Anticipated: This inflationary trend could trigger volatility in the crypto market. Historically, rising inflation has led investors to seek safe-haven assets like gold, putting downward pressure on riskier assets like cryptocurrencies.
Focus on the Fed's Response: The Federal Reserve closely monitors inflation data and uses it to guide its monetary policy decisions. A sustained rise in inflation might prompt the Fed to adopt a more hawkish stance, potentially leading to interest rate hikes. Higher interest rates generally strengthen the US dollar, which can weaken riskier assets like crypto.
Bitcoin Price at Risk and the Halving Bull Cycle: Today's CPI data could lead to a decline in Bitcoin's price, which is currently hovering around $70,000. If inflation fears escalate, Bitcoin could potentially drop below the psychologically important $60,000 barrier in the short term. However, some analysts point to the upcoming Bitcoin halving, scheduled for roughly May 2024, as a potential countervailing force. Historically, these halving events, which cut the amount of new Bitcoin entering circulation in half, have been followed by bull runs in the crypto market. It remains to be seen whether this pattern will hold true in the current economic climate.
Long-Term Impact Uncertain: While the near-term outlook for crypto appears volatile, the long-term relationship between CPI and crypto remains a topic of debate. Some experts believe that cryptocurrencies can act as a hedge against inflation, similar to gold. However, the long-term success of this theory depends on the continued adoption and development of the crypto market.
Looking Beyond the Headline Numbers: Investors should delve deeper than the headline CPI figure. The core CPI, which excludes food and energy prices, can offer a clearer picture of underlying inflationary trends. Additionally, it's crucial to monitor the Federal Reserve's response and its potential impact on the US dollar's value. By comprehensively analyzing the economic data and policy decisions, investors can make informed choices regarding their crypto holdings.#cpi #TrenddingTopic $BTC #TrendingTopic
