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Bitcoin (BTC) is still worth $20,000 nearly six years after first reaching it — if adjusted for inflation.According to data from sources including U.S. Inflation Calculator, BTC price performance has de facto stayed static since 2017.BTC price "barely above" 2017 old all-time highWhile criss-crossing the $20,000 mark since tapping it
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To combat galloping inflation early in 2022, the U.S. Federal Reserve began what's now become an historic run of monetary tightening, raising its benchmark fed funds rate target more than 500 basis points over the past 17 months. The most recent rate hike was at the Fed's last policy meeting
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Bitcoin (BTC) hovered near $29,500 on Aug. 10 as markets braced for a fresh United States Consumer Price Index (CPI) print.BTC/USD 1-hour chart. Source: TradingViewTrader warns of Bitcoin "downside" despite CPI volatilityData from Cointelegraph Markets Pro and TradingView showed BTC price action stabilizing in the run-up to the CPI release
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"Stagflation is the worst possible scenario for risk assets, particularly for stocks," Acheson said, adding that compared to equities, the downside in bitcoin appears limited, considering current low participation from macro investors, the spot-ETF narrative and bitcoin's gold-like appeal. Source
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The S&P 500 index is currently trading only 6% below its all-time high, which was reached in January 202. Traditionally, such a situation would be seen as a bullish sign for risk-on assets, including commodities and cryptocurrencies, but this time, it appears that investors have been using the stock market
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Ripio users in Argentina, where annual inflation is running at 115%, are already able to purchase the UXD stablecoin, also called Criptodólar, the company said Thursday. The stablecoin, which is also available in Brazil, is hosted on LaChain, a Latin America-focused layer 1 blockchain launched in June by Ripio in
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The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points. Source
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Massad and Clayton’s recommendations come at a potentially pivotal time in crypto’s brief history, and amid an ongoing jurisdictional feud between the CFTC, which considers crypto a commodity and the SEC, which sees it as a security. Both agencies have filed multiple legal actions against exchanges and other key crypto
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And, indeed, bitcoin's price quickly shot up to almost $31,000 following the report. It didn't last long. As of press time, BTC had pulled back below $30,500, down more than 1% from where it was before the Consumer Price Index (CPI) data was released. Source
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The U.S. inflation rate as measured by the Consumer Price Index (CPI) slipped to 3.0% on a year-over-year basis in June from 4.0% in May, according to the Bureau of Labor Statistics (BLS) and versus expectations for a dip to 3.1%. On a monthly basis, the CPI was higher by
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