#CryptoMarkets #Geopolitics #newscrypto
📈 Crypto markets get a breath of air due to US inflation, but only Bitcoin holds on
Fresh data on US inflation has returned local optimism to the markets, although the overall picture remains ambiguous.
📊 What about inflation?
Headline CPI (headline inflation): increased by 0.5% per month and 4.2% per year (the highest figure since April 2023). The main driver is a jump in energy prices (+3.9% per month) due to the conflict around Iran.
Core CPI (core inflation - excluding food and energy): rose by only 0.2% (the forecast was 0.3%), and in annual terms is 2.9%. Since the Fed is focused on core inflation, the market breathed a sigh of relief.
🪙 Crypto Market Reaction: Bitcoin vs. Altcoins
Despite the positive reaction to Core CPI, the rebound was quite weak and affected mainly the first cryptocurrency. BTC rose by 1.9% per day (to ~$62,600) and almost completely recovered the weekly decline (minus less than 1%), holding its 200-week moving average.
But altcoins remain in deep “minus” for the week:
Ether (#ETH ): -6.5% (~$1,651)
#xrp : -7.5% (~$1.12)
Solana ($SOL ): -7.4% (~$65)
Dogecoin ($DOGE ): -7%
$BNB : held out better than the others — losing only 2.1% for the week.
🚀 What’s next? Key market triggers:
1. Fed meeting (June 17): Markets expect rates to remain unchanged. “Hot” headline inflation gives hawks arguments to maintain tight monetary policy, while “soft” core inflation allows doves to say that the week of pressure is due solely to oil prices.
2. Historic SpaceX IPO: Pricing for the public offering of shares of Elon Musk’s company will take place tonight, and trading will start on Friday. SpaceX is expected to be valued at $1.8 trillion. According to Bloomberg, demand for shares is already 4 times higher than supply, with individual funds submitting applications for amounts up to $10 billion. This mega-listing could seriously redistribute liquidity in financial markets.
📈 Crypto markets get a breath of air due to US inflation, but only Bitcoin holds on
Fresh data on US inflation has returned local optimism to the markets, although the overall picture remains ambiguous.
📊 What about inflation?
Headline CPI (headline inflation): increased by 0.5% per month and 4.2% per year (the highest figure since April 2023). The main driver is a jump in energy prices (+3.9% per month) due to the conflict around Iran.
Core CPI (core inflation - excluding food and energy): rose by only 0.2% (the forecast was 0.3%), and in annual terms is 2.9%. Since the Fed is focused on core inflation, the market breathed a sigh of relief.
🪙 Crypto Market Reaction: Bitcoin vs. Altcoins
Despite the positive reaction to Core CPI, the rebound was quite weak and affected mainly the first cryptocurrency. BTC rose by 1.9% per day (to ~$62,600) and almost completely recovered the weekly decline (minus less than 1%), holding its 200-week moving average.
But altcoins remain in deep “minus” for the week:
Ether (#ETH ): -6.5% (~$1,651)
#xrp : -7.5% (~$1.12)
Solana ($SOL ): -7.4% (~$65)
Dogecoin ($DOGE ): -7%
$BNB : held out better than the others — losing only 2.1% for the week.
🚀 What’s next? Key market triggers:
1. Fed meeting (June 17): Markets expect rates to remain unchanged. “Hot” headline inflation gives hawks arguments to maintain tight monetary policy, while “soft” core inflation allows doves to say that the week of pressure is due solely to oil prices.
2. Historic SpaceX IPO: Pricing for the public offering of shares of Elon Musk’s company will take place tonight, and trading will start on Friday. SpaceX is expected to be valued at $1.8 trillion. According to Bloomberg, demand for shares is already 4 times higher than supply, with individual funds submitting applications for amounts up to $10 billion. This mega-listing could seriously redistribute liquidity in financial markets.