Bitcoin Breaks Bullish Trendline; US Jobs Data Eyed
An above-forecast U.S. wage-growth figure may revive expectations of a 75 basis point Fed rate hike and bring more volatility to markets. Original Source
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Bitcoin Drops for Third Straight Day as Dollar Hits 21-Month High, US Wages Eyed
According to macroeconomic theory, an uptick in wages can push up inflation. As wages rise, employers pass on the increase in labor cost to the final consumer, resulting in an uptick in the general price level in the economy. Workers demand higher wages in response, setting a vicious cycle of
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Bitcoin Back on the Defensive as Moderna CEO Warns of Reduced Vaccine Efficacy, Exchange Inflows Eyed
There is consensus in the market that policymakers would provide unlimited support to asset prices if the situation worsens, leading to lockdowns. However, that would push governments and central banks in a tough spot. With inflation already running hotter than expected globally, lockdowns and more stimulus could lead to stagflation,
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Large Bitcoin Investors Take a Breather After Frantic October, U.S. Inflation Data Eyed
Bitcoin’s uptrend continues with prices rising over 10% this month, extending October’s 40% gain and setting a new record high of over $68,000. However, institutions and large investors seem to be handing the baton over to retail investors ahead of the U.S. consumer price index data that could influence the
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PayPal Talks to Buy Crypto Firm BitGo Have Ended, Other Targets Eyed: Report
Talks regarding a possible acquisition by PayPal of bitcoin custodian BitGo have fallen through, Fortune reported, citing multiple sources. Read more: PayPal Said to Be in Talks to Buy Crypto Firms Including BitGo: Bloomberg Source
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