Bitcoin Value Takes A Hit As U.S Inflation Rises

Name	Symbol	Market	Market Cap ($)	Algorithm
Avalanche	AVAXUSD	Crypto	12,706,271,493	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Avalanche

AVAXUSD

Crypto

12,706,271,493

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.010	0.03%	33.61	33.61	33.63

Price Change

Price Change %

Current Price

Bid Price

Offer

0.010

0.03%

33.61

33.63

High Price	Low Price	Open Price	Prev. Close	52 Week Range
33.75	33.59	33.67	33.60	8.62 - 65.38

High Price

Low Price

Open Price

Prev. Close

52 Week Range

33.75

33.59

33.67

33.60

8.62 - 65.38

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:24:21	0.060083	33.61	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:24:21

0.060083

33.61

USD

Price x Volume	Volume	Base Symbol	Related Pairs
94,051.21	2,793.94	AVAX	AVAXEUR	AVAXGBP	AVAXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

94,051.21

2,793.94

Bitcoin Value Takes A Hit As U.S Inflation Rises

16/03/2022 2:00pm

NEWSBTC

The recent acceleration in the United States Consumer Price Index for February has come at just the right time with matching expectations. The index is at 7.91%. It was expected to peak during Q1 and remain elevated throughout this year. Even though it might not have a big impact on prices, the Federal Reserve and other central banks are trying to make monetary policy tighter so that people will believe they can keep prices stable. Related Reading | Gloomy Crypto Future? Book Author Warns We’re In The Biggest Bubble In History The price of bitcoin had decreased since December when the 10-year yield rose, and credit became more expensive. Reviews On Market Inflation People in the credit market understand inflation is here to stay. This means that rising interest rates are going to continue. As credit instruments sell, this causes interest rates to go up. This makes it harder for people to afford things. Dylan LeClair, senior analyst and Co-Founder of 21stParadigm, said; Fixed income doesn’t react well to (accelerating) inflation at four decade highs, who would’ve thought? Higher rates in a historically over-indebted economy; the market is doing the Fed’s hike cycle for them. Things are likely going to break faster than most think. Furthermore, we have increasing financial conditions, and an unwind in leverage (in legacy markets as bitcoin derivatives are already de-risking). On this point, LeClair tweeted; Fixed income getting murdered over the last three months. Accelerating inflation and slowing growth across the board. A gradual then sudden process of declining liquidity as deleveraging process continues. BTFD conditions across markets has turned into “sell the rip”. The end of this regime will likely be marked by the liquidity crisis in legacy markets, which probably has a net negative impact on the bitcoin price followed by a pivot back towards quantitative easing and, ultimately, yield curve control from central banks. Related Reading | Hedge Fund Holdings Fail To Prop Up Bitcoin Price Regardless of what happens with the global economy, blockchain has continued to prove its usefulness. The case for a non-sovereign scarce digital monetary asset has never been stronger, and investors should embrace this new trend before it’s too late. Crypto Market Insight In the past 24 hours, cryptocurrency prices have been relatively calm. Yesterday’s US markets dive was in reaction to fresh inflation figures that showed prices rising at an annual rate of 7.9% over the past three months and raising fears about future tightening from monetary policymakers across Europe, Asia, and America – with all eyes fixed on when they will tighten their own purses. The top ten cryptocurrencies were all relatively stable, with only a few showing 1% or fewer movements. Among these was Avalanche, which gained 2%. Finally, Polkadot is adding 5%, making it the first time in quite a while that we’ve seen growth this high. Bitcoin added 1.08% to its value. Featured image from Pixabay, chart from Tradingview.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

AVAXUSD Avalanche