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The Stepn x Adidas Genesis Sneakers Collection: A Revolutionary Partnership The fusion of the digital and physical worlds is more than a trend; it is a burgeoning reality. The recent collaboration between Stepn and Adidas exemplifies this transformative shift. With the launch of the Genesis Sneakers collection, both companies are poised to redefine the boundaries of fitness, fashion, and technology in lifestyle rewards. This partnership is not only groundbreaking but also sets the stage for future innovations in the ever-evolving landscape of fitness applications and digital assets. A New Era of Phygital Experiences Stepn, a pioneering move-to-earn FitTech app, has taken a bold leap by teaming up with a global powerhouse like Adidas. This collaboration signifies a pivotal moment in the fitness and lifestyle sector, as highlighted by Stepn CEO Shiti Manghani: Phygital Partnership : The merging of physical and digital assets marks a new direction for lifestyle rewards. Enhanced...

Bitcoin Price Rejects CPI Boost as Market Fed Rate Pause Odds Near 95%

Bitcoin Price Rejects CPI Boost as Market Fed Rate Pause Odds Near 95%

As a cryptocurrency enthusiast and market observer, I have been closely watching Bitcoin's price movements over the past few weeks. The crypto market has been quite volatile, with Bitcoin's price fluctuating between $30,000 and $40,000. However, the latest news that caught my attention is Bitcoin's rejection of the CPI boost as the market Fed rate pause odds near 95%.

Bitcoin Falls Back in Line

Bitcoin's price took a hit on June 12, 2023, after a brief macroeconomic data jolt failed to shake the market's status quo. BTC/USD's one-hour candle chart on Bitstamp shows the cryptocurrency's price falling back in line almost immediately after closing the weekend's CME futures gap near $26,500. As of writing this article, Bitcoin's price is trading at around $34,000, down by 5% from the previous day.

Market Fed Rate Pause Odds Near 95%

The market's perception of the Federal Reserve's monetary policy has been one of the primary drivers of Bitcoin's price movements. The Federal Reserve's decision to keep interest rates low and continue with its bond-buying program has been a catalyst for Bitcoin's growth. However, the latest market data shows that the odds of the Fed pausing its rate hike cycle have surged to near 95%.

CPI Boost Rejected

The Consumer Price Index (CPI) measures the average change in prices over time of goods and services purchased by households. The latest data shows that the CPI increased by 2.8% in May 2023, the fastest pace in nearly three decades. The rise in inflation has been a concern for the Fed, which has indicated that it may have to raise interest rates to prevent the economy from overheating.

However, Bitcoin's price movements suggest that the market has rejected the CPI boost as a driver of Bitcoin's price. The cryptocurrency's price fell back in line almost immediately after the CPI data was released, indicating that the market is more concerned about the Fed's monetary policy than inflation.

Conclusion

Bitcoin's rejection of the CPI boost as the market Fed rate pause odds near 95% suggests that the market is more focused on the Federal Reserve's monetary policy than inflation. The market's perception of the Fed's interest rate hike cycle has been one of the primary drivers of Bitcoin's price movements. As the odds of the Fed pausing its rate hike cycle surge, Bitcoin's price may continue to fluctuate in the short term. However, as a long-term investor, I remain optimistic about Bitcoin's potential to revolutionize the financial industry and create a more equitable and decentralized global economy.

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