Bitcoin and altcoin charts highlight growing strength across the industry. Will geopolitics and US economic health concerns stand in the way of the rally?
Inflation News
Inflation as it relates to money means the devaluation of a payment vehicle amid the rising cost of goods and services. The term usually refers to fiat currencies, which can lose value when a government expands the supply of dollars in an economy. Venezuela saw its currency lose significant value in 2018 during hyperinflation — an exaggerated form of inflation. When it comes to cryptocurrencies, however, inflation works differently. Many assets, such as Bitcoin, have a maximum supply programmed into their code, which can prevent a loss of value due to added supply. Bitcoin does entail some level of inflation, as more coins are released into its circulating supply through a set and predictable mining schedule, but maximum supply sets definite limits on BTC inflation.
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Although US inflation was weaker than expected in March, the ongoing war between the United States, Iran and Israel has fueled macroeconomic uncertainty.
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Bitcoin continues to show strength even as US recession risks rise and the fragile ceasefire with Iran begins to show cracks.
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Some officials cautiously eyed a year-end rate cut, but others warned that upward adjustments might be needed if inflation remains above target levels.
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While an Iran ceasefire favors stocks, Bitcoin’s path to $75,000 remains contingent on market trust despite Trump’s volatile diplomacy.
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Bitcoin price slumped on Friday as uncertainty over the US economy and war in Iran negatively impacted stock and crypto markets.
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Bitcoin mass adoption by institutional investors has resumed, but global instability and the risk of rising US inflation put a lid on BTC’s breakouts above $70,000.
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US recession fears multiplied this week as BlackRock's Larry Fink warned of a "global" downturn over oil prices, with Bitcoin still tied to stocks.
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Bitcoin bulls face an uphill battle to turn the March options expiry in their favor, requiring a 6% price rally to $75,000 before Friday.
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Rising inflation concerns weigh on Bitcoin’s breakout as traders refuse to take on bullish positions, despite Monday’s 4% price bounce.
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Gold is also being impacted by rising anticipation that the US Federal Reserve won’t cut interest rates this year, while Fed chair Jerome Powell said inflation would rise.
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Bitcoin searches for equilibrium at $70,000 while rising crude oil prices and tanking stock markets have investors worried over the future of inflation in the US.
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The disruption to the oil market and critical energy effects may have long-term economic effects that investors are not pricing in.
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Bitcoin dropped below $71,000, but the market remains tilted toward bulls as spot ETF inflows and BTC buying from Strategy boost investor sentiment.
4769 - Market Update
Bitcoin price action fell to week-to-date lows with Bitcoin caught between high US inflation and nerves over Fed policy hints at the day's FOMC meeting.
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