COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Will Cryptocurrencies Face a Downturn Following Recent Inflation Data?
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cryptocurrency News > Will Cryptocurrencies Face a Downturn Following Recent Inflation Data?
Cryptocurrency News

Will Cryptocurrencies Face a Downturn Following Recent Inflation Data?

In Brief

  • Bitcoin dropped after US inflation data but later recovered.

  • Producer inflation data is a leading indicator for the Fed's inflation battle.

  • High CPI data could negatively impact cryptocurrencies and Fed's rate decisions.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Bitcoin (BTC) experienced a sharp decline following the release of US inflation data but subsequently rallied. Now, data as significant as consumer inflation has been released. The recent data presents producer inflation, which serves as a leading indicator of the Federal Reserve’s (Fed) stance in its fight against inflation.

Will Cryptocurrencies Decline?

US Producer Inflation data has been disclosed. The latest CPI figures came in high, which could work against cryptocurrencies. Following the disappointing data, the Fed’s interest rate cuts have been postponed until the September meeting. Worse yet, Chairman Powell has not yet given a comprehensive assessment speech regarding the latest data. If the Fed hints at a further 25 basis points hike as expected, the situation could deteriorate.

It was anticipated that the Fed would reach its 2% inflation target by 2025, with the first rate cut expected in March 2023. However, poor data from the first quarter has reversed these expectations.

PPI data was announced at 2.1% against an expectation of 2.2%. Core PPI came in at 2.4%, against the expectation of 2.3%. The previous month’s figures were 1.6% and 2%, respectively.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Crypto Plunge Draws Attention: Major Coins Face a Significant Drop

Trump’s Bold Accusations Shake Financial Markets

Trump’s Crypto Dinner Sparks Investigation Demands from Congress

FTX Begins Massive Payout to Creditors Surpassing $5 Billion

SEC Spurs RexShares to Innovate Staking ETFs

COINTURK NEWS 11 April, 2024 - 3:42 pm 11 April, 2024 - 3:42 pm
Share This Article
Facebook Twitter
Share
Previous Article European Central Bank Interest Rate Decision
Next Article Bitcoin Price Surges and Coinbase Launches BCH and LTC Futures
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Shiba Inu Community Drastically Burns Over a Billion SHIB Tokens
Shiba (SHIB)
Discover How Pi Network Advances Gaming with Innovative Integrations
Altcoin News
Binance Coin Faces New Challenges as Market Volatility Rises
Binance Coin (BNB)
XRP Faces Potential Downtrend as Bearish Pattern Emerges
Ripple (XRP)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?