Bitcoin Trades at $68,400 Amid Easing Inflation

Bitcoin is trading at $68,400, influenced by recent data. Investors are skeptical of the Fed's approach to controlling inflation.

Azcnews Bitcoin Trades At $68,400 Amid Easing Inflation

Bitcoin has fallen to $68,400 at the time of writing, which is not unexpected. Recent data has influenced this increase. However, investors do not share the Fed’s outlook on combating inflation at the beginning of 2024. Additionally, risks such as MTGOX have led to profit-taking at higher levels.

Why are cryptocurrencies rising?

The Q1 US GDP data has declined in line with expectations. Jobless claims were 2,000 higher than anticipated. As employment decreases, economic growth will balance out, and inflation will decrease. If this scenario unfolds, the Fed might implement the predicted 75 basis point rate cut for this year. Otherwise, various possibilities could arise.

fed faiz yorum

The economy could slow down, forcing the Fed to ease its tight monetary policy. However, it cannot do so if inflation does not decrease. The Fed might have to cut interest rates despite persistent inflation if the risk of economic recession increases, causing cryptocurrency prices to rise while inflation control takes longer.

The economy is slowing, and if the Fed doesn’t cut interest rates, cryptocurrencies might decline further amid rising prices and increasing unemployment. Thus, inflation will decrease, and the economy will grow at a reasonable rate. Noted trader Skew has interpreted the latest data positively. According to the CME Group’s FedWatch tool, the market does not anticipate a rate cut before September.

Related: Vanguard Continues to Reject Ethereum ETF, Expresses Hostile Stance

Comments on Cryptocurrencies

Btcusdt
Btcusdt

Recent data from CoinGlass indicates that resistance for BTC has significantly increased to $69,000 today. Meanwhile, liquidity at the support level of $66,800 has also strengthened. A report from Moses Asset on May 23 noted that “the easing of financial conditions” would lead to more gains in risk markets. The report also reassured anxious investors about the downturn, describing it as “merely a pause in the bull market trend.”

“If credit remains relatively cheap and available, it will be reflected in positive movements across speculative asset classes. This includes sectors like high-yield bonds, which continue to reach new highs. The next sector I am monitoring for confirmation is cryptocurrencies, particularly Bitcoin.”

(1 vote)

2.0/5

(1 vote)
  1. Avatar of Hassan M auwal
    Hassan M auwal

    Which comment section I no understand for you now

  2. Avatar of Yasir adamu yakubu
    Yasir adamu yakubu

    Bitcon is too much good

Comments are closed.

Latest

Binance Completes Gopax Acquisition, Paving The Way For A South Korean Comeback

News | Editor Choice | Policy & Regulations

Binance Completes Gopax Acquisition, Paving the Way for a South Korean Comeback

According to a report from South Korean outlet MK, the world’s largest cryptocurrency exchange Binance has officially completed its acquisition of Gopax, one of the five licensed digital asset exchanges in South Korea.

Why Hyperliquid Is Becoming Unstoppable

News | Altcoin | Editor Choice

After the Crash and Scandal: Why Hyperliquid Is Becoming Unstoppable

Amid record-breaking liquidations and a listing scandal that rocked Binance, Hyperliquid has risen as DeFi’s “fortress of steel” — a living testament to the true power of transparency and decentralization.

Bitcoin Faces A Disastrous Year As Uptober Turns Into Floptober

News | Bitcoin | Editor Choice

Bitcoin Faces a Disastrous Year as Uptober Turns into Floptober

Once expected to soar during “Uptober,” Bitcoin has instead stumbled into one of its worst years ever, turning the traditionally bullish month into a gloomy “Floptober.”

Us Seizes $15 Billion In Bitcoin, Hunts Cambodian Tycoon

News | Bitcoin | Editor Choice

US Seizes $15 Billion in Bitcoin, Hunts Cambodian Tycoon in World-Shaking Crypto Fraud Case

Global financial markets are reeling after the US Department of Justice unveiled what it calls the largest cryptocurrency fraud case in history, implicating Cambodian businessman Chen Zhi, chairman of Prince Holding Group.

Investors In Panic, Binance Flooded With Sell Orders

News | Altcoin | Editor Choice

Investors in Panic, Binance Flooded with Sell Orders

After a historic crash that wiped out more than $19 billion in market capitalization within hours, the crypto market is still struggling to recover. Fresh data from CryptoQuant reveals a deepening wave of pessimism across Binance, as traders rush to deposit funds and trigger massive sell orders.

Screenshot 2025 09 10 100533