Inflation shock from the USA: Bitcoin and old coins suffer dramatic losses

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Neuer Dämpfer für den Kryptomarkt: Inflationsdaten und ihre Auswirkungen auf Bitcoin und Altcoins Die aktuellen Inflationsdaten aus den Vereinigten Staaten haben den Kryptomarkt schwer getroffen. Der Bitcoin (BTC)-Kurs reagierte stark auf die unerwartet hohen Zahlen, was zu einer sofortigen Abwärtsbewegung führte. Diese Entwicklung symbolisiert einen weiteren Rückschlag für den Kryptomarkt und verstärkt gleichzeitig die Unsicherheit unter den Investoren. Hohe Inflationszahlen belasten den Bitcoin-Kurs Der Rückgang des Bitcoin-Kurses ist direkt auf die enttäuschenden Verbraucherpreisindex-Daten (CPI) aus den USA zurückzuführen. Die Inflationsrate stieg im Jahresvergleich von 2,9 % auf 3,0 %. Analysten hatten ursprünglich mit einer Beibehaltung des Wertes bei 2,9 % …
New damper for the cryptoma market: Inflation data and its effects on Bitcoin and old coins The current inflation data from the United States have hit the cryptom market heavily. The Bitcoin (BTC) course reacted strongly to the unexpectedly high numbers, which led to an immediate downward movement. This development symbolizes a further setback for the cryptom market and at the same time increases uncertainty among investors. High inflation numbers burden the Bitcoin course The decline in the Bitcoin course is directly due to the disappointing consumer price index data (CPI) from the USA. The inflation rate rose from 2.9 % to 3.0 % in the year. Analysts originally had 2.9 % with maintaining the value ... (Symbolbild/KNAT)

New damper for the cryptom market: inflation data and its effects on Bitcoin and old coins

The current inflation data from the United States hit the cryptom market heavily. The Bitcoin (BTC) course reacted strongly to the unexpectedly high numbers, which led to an immediate downward movement. This development symbolizes a further setback for the cryptom market and at the same time increases uncertainty among investors.

High inflation numbers burden the Bitcoin course

The decline in the Bitcoin course is directly due to the disappointing consumer price index data (CPI) from the USA. The inflation rate rose from 2.9 % to 3.0 % in the year. Analysts originally expected to maintain the value at 2.9 %. In addition, consumer prices rose by 0.5 % compared to the previous month, while the forecast was 0.3 %.

The development of core inflation, which excludes food and energy prices, is also particularly striking. An increase of 3.1 % was expected compared to the same period last year, but in fact the value was 3.3 %. On a monthly basis, the core inflation was also over the forecast 0.3 %, with an increase of 0.4 %.

These high number of inflation was already an important factor at the last interest session of the US Federal Reserve that prevented interest reduction. The perspectives for 2023 appear less rosy due to these new developments.

Bitcoin and old coins overthrow

The effects on the cryptom market were immediately noticeable. Within less than ten minutes, the Bitcoin course fell by 2.5 % from $ 96,500 to $ 94,000, which corresponds to the lowest level since last Monday. The course has currently recovered slightly and is almost $ 95,000. This brand represents a crucial level that Bitcoin now has to recapture to regain the trust of investors.

The old coins suffered even greater losses in this situation. Ethereum (ETH) fell by about 3 %immediately after the inflation data. Even more striking were the declines in other coins such as Solana (Sol), Dogecoin (Doge) and Cardano (ADA), which sometimes recorded even greater losses.

Overall, it can be seen that the high inflation rates and the associated economic uncertainties apply considerable pressure on the cryptom market. Investors should keep an eye on the market developments, while the situation remains volatile.