• bitcoinBitcoin(BTC)$24,092.004.75%
    BITCOIN
    24H : 4.75%
    Volume : $20,194,355,405.00
    Marketcap : $460,635,366,426.00
  • ethereumEthereum(ETH)$1,770.175.18%
    ETHEREUM
    24H : 5.18%
    Volume : $11,535,585,605.00
    Marketcap : $212,397,111,339.00
  • tetherTether(USDT)$1.0000.050%
    TETHER
    24H : 0.050%
    Volume : $39,858,572,563.00
    Marketcap : $66,477,052,956.00
  • usd-coinUSD Coin(USDC)$1.000.070%
    USD COIN
    24H : 0.070%
    Volume : $4,168,853,160.00
    Marketcap : $54,237,235,654.00
  • rippleXRP(XRP)$0.3822.57%
    XRP
    24H : 2.57%
    Volume : $885,723,732.00
    Marketcap : $18,473,721,629.00
  • cardanoCardano(ADA)$0.5435.14%
    CARDANO
    24H : 5.14%
    Volume : $694,462,723.00
    Marketcap : $18,388,140,219.00
  • dogecoinDogecoin(DOGE)$0.0713.46%
    DOGECOIN
    24H : 3.46%
    Volume : $256,822,159.00
    Marketcap : $9,411,647,518.00
  • daiDai(DAI)$1.000-0.02%
    DAI
    24H : -0.02%
    Volume : $457,249,391.00
    Marketcap : $7,043,220,903.00
  • tronTRON(TRX)$0.0711.48%
    TRON
    24H : 1.48%
    Volume : $294,541,809.00
    Marketcap : $6,543,026,556.00
  • ethereum-classicEthereum Classic(ETC)$39.063.73%
    ETHEREUM CLASSIC
    24H : 3.73%
    Volume : $1,153,113,546.00
    Marketcap : $5,331,178,730.00
  • okbOKB(OKB)$18.461.35%
    OKB
    24H : 1.35%
    Volume : $7,006,973.00
    Marketcap : $4,729,632,996.00
  • leo-tokenLEO Token(LEO)$4.86-2.84%
    LEO TOKEN
    24H : -2.84%
    Volume : $2,629,478.00
    Marketcap : $4,541,077,328.00
  • litecoinLitecoin(LTC)$63.654.66%
    LITECOIN
    24H : 4.66%
    Volume : $313,051,126.00
    Marketcap : $4,513,888,187.00
  • chainlinkChainlink(LINK)$8.6611.70%
    CHAINLINK
    24H : 11.70%
    Volume : $602,085,323.00
    Marketcap : $4,043,138,440.00
  • crypto-com-chainCronos(CRO)$0.1503.27%
    CRONOS
    24H : 3.27%
    Volume : $20,106,953.00
    Marketcap : $3,806,401,283.00
  • cosmosCosmos Hub(ATOM)$11.879.13%
    COSMOS HUB
    24H : 9.13%
    Volume : $345,914,763.00
    Marketcap : $3,469,842,320.00
  • stellarStellar(XLM)$0.1294.26%
    STELLAR
    24H : 4.26%
    Volume : $144,703,334.00
    Marketcap : $3,255,755,727.00
  • moneroMonero(XMR)$166.95-0.57%
    MONERO
    24H : -0.57%
    Volume : $148,949,343.00
    Marketcap : $3,033,825,275.00
  • bitcoin-cashBitcoin Cash(BCH)$147.295.00%
    BITCOIN CASH
    24H : 5.00%
    Volume : $611,119,751.00
    Marketcap : $2,829,539,795.00
  • algorandAlgorand(ALGO)$0.3744.33%
    ALGORAND
    24H : 4.33%
    Volume : $91,082,660.00
    Marketcap : $2,573,919,524.00
  • vechainVeChain(VET)$0.0334.43%
    VECHAIN
    24H : 4.43%
    Volume : $101,900,401.00
    Marketcap : $2,359,900,798.00
  • tezosTezos(XTZ)$1.943.03%
    TEZOS
    24H : 3.03%
    Volume : $35,656,509.00
    Marketcap : $1,736,211,334.00
  • theta-tokenTheta Network(THETA)$1.684.44%
    THETA NETWORK
    24H : 4.44%
    Volume : $108,937,888.00
    Marketcap : $1,683,744,452.00
  • eosEOS(EOS)$1.283.62%
    EOS
    24H : 3.62%
    Volume : $186,878,893.00
    Marketcap : $1,283,562,275.00
  • makerMaker(MKR)$1,161.446.48%
    MAKER
    24H : 6.48%
    Volume : $70,202,004.00
    Marketcap : $1,047,535,725.00
  • iotaIOTA(MIOTA)$0.3541.17%
    IOTA
    24H : 1.17%
    Volume : $16,782,868.00
    Marketcap : $982,601,377.00
  • zcashZcash(ZEC)$71.79-0.55%
    ZCASH
    24H : -0.55%
    Volume : $58,265,857.00
    Marketcap : $914,335,643.00
  • paxos-standardPax Dollar(USDP)$1.000.090%
    PAX DOLLAR
    24H : 0.090%
    Volume : $1,870,644.00
    Marketcap : $869,456,954.00
  • huobi-tokenHuobi(HT)$4.400.940%
    HUOBI
    24H : 0.940%
    Volume : $6,498,454.00
    Marketcap : $676,713,676.00
  • basic-attention-tokenBasic Attention(BAT)$0.4463.95%
    BASIC ATTENTION
    24H : 3.95%
    Volume : $46,718,031.00
    Marketcap : $667,205,012.00
  • wavesWaves(WAVES)$6.324.42%
    WAVES
    24H : 4.42%
    Volume : $197,864,202.00
    Marketcap : $631,406,159.00
  • dashDash(DASH)$55.041.61%
    DASH
    24H : 1.61%
    Volume : $84,273,486.00
    Marketcap : $597,978,572.00
  • decredDecred(DCR)$38.49-5.44%
    DECRED
    24H : -5.44%
    Volume : $14,695,307.00
    Marketcap : $547,545,739.00
  • bitcoin-goldBitcoin Gold(BTG)$29.882.98%
    BITCOIN GOLD
    24H : 2.98%
    Volume : $14,818,989.00
    Marketcap : $523,389,031.00
  • nemNEM(XEM)$0.0532.65%
    NEM
    24H : 2.65%
    Volume : $8,851,817.00
    Marketcap : $475,775,445.00
  • ravencoinRavencoin(RVN)$0.0405.21%
    RAVENCOIN
    24H : 5.21%
    Volume : $21,993,404.00
    Marketcap : $459,466,709.00
  • qtumQtum(QTUM)$4.263.44%
    QTUM
    24H : 3.44%
    Volume : $64,403,485.00
    Marketcap : $443,997,413.00
  • omisegoOMG Network(OMG)$2.403.99%
    OMG NETWORK
    24H : 3.99%
    Volume : $39,157,809.00
    Marketcap : $337,281,105.00
  • 0x0x(ZRX)$0.3694.70%
    0X
    24H : 4.70%
    Volume : $17,827,232.00
    Marketcap : $312,169,483.00
  • iconICON(ICX)$0.3472.12%
    ICON
    24H : 2.12%
    Volume : $4,606,848.00
    Marketcap : $275,276,293.00
  • ontologyOntology(ONT)$0.2932.52%
    ONTOLOGY
    24H : 2.52%
    Volume : $12,066,128.00
    Marketcap : $256,651,482.00
  • liskLisk(LSK)$1.242.06%
    LISK
    24H : 2.06%
    Volume : $9,728,426.00
    Marketcap : $179,389,503.00
  • augurAugur(REP)$9.092.32%
    AUGUR
    24H : 2.32%
    Volume : $4,965,574.00
    Marketcap : $69,282,242.00
  • bitcoin-diamondBitcoin Diamond(BCD)$0.1833.90%
    BITCOIN DIAMOND
    24H : 3.90%
    Volume : $355,850.00
    Marketcap : $34,407,692.00
  • bytomBytom(BTM)$0.0136.03%
    BYTOM
    24H : 6.03%
    Volume : $689,581.00
    Marketcap : $23,403,337.00
  • monacoinMonaCoin(MONA)$0.539-1.58%
    MONACOIN
    24H : -1.58%
    Volume : $50,632.00
    Marketcap : $0.00
Cryptotelegraph
  • bitcoin
    Bitcoin
    $24,092.00
  • ethereum
    Ethereum
    $1,770.17
  • tether
    Tether
    $1.000
  • usd-coin
    USD Coin
    $1.00
  • binancecoin
    BNB
    $329.59
    • News
      • Bitcoin News
      • Ethereum News
      • Crypto News
      • Crypto Technology
      • Analysis
      • Blockchain News
      • Industry News
      • NFTs
      • ICO News
      • Press Releases
    • Market Cap
    • Exchanges
    • ICOs
    • Videos
      • Bitcoin Videos
      • Ethereum Videos
      • Altcoin Videos
      • Blockchain Videos
      • ICO Videos
    • Submit Press Release
      • Read Press Releases
    • Contact Us
    No Result
    View All Result
    Cryptotelegraph.com
    No Result
    View All Result
    Home News Bitcoin News

    Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report

    Andy K by Andy K
    January 13, 2022
    in Bitcoin News
    Reading Time: 5 mins read
    15.1k 628
    0
    Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report
    2.7k
    SHARES
    68.3k
    VIEWS
    Share on FacebookShare on Twitter

    Bitcoin has seen some relief in the past couple of days with a 4.5% profit in 24-hours. The first crypto by market cap trades at $42,947, after climbing back from the lows at around $39,000.

    Bitcoin BTC BTCUSD
    BTC trends to the upside in the 1-hour chart. Source: BTCUSD Tradingview

    Related Reading | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K


    The recent bullish price action comes at the heels of the most recent Consumer Price Index (CPI) report published in the U.S.; the metric has become one of the top issues for investors around the world. Used to measure inflation in U.S. dollars, the CPI printed a 7% for December 2021.

    Related articles

    Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

    Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

    August 8, 2022
    Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

    Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

    August 7, 2022

    5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

    The metric recorded a percentage below investors’ expectations and was mostly one of the reasons Bitcoin saw a quick recovery. However, it stood at a 40 year high suggesting the issue will remain a priority for financial institutions across 2022.

    As seen below, individual inflation data paints a different picture with many sectors reaching double digits for their year-over-year periods. This includes medical care with 37.3%, transportation with 21%, and energy with 29.3%.

    The whole inflation misery in one chart! US inflation of 7% is highest since 1980s. Monthly price increases come in higher than expected. Used cars, food, clothing drive price gains. (Chart via @MOstwald1) pic.twitter.com/mJOCun6UOK

    — Holger Zschaepitz (@Schuldensuehner) January 12, 2022


    Get 110 USDT Futures Bonus for FREE!

    Inflation has caused the U.S. Federal Reserve and its Chairman Jerome Powell to hint at tapering and an increase in interest rates. At the moment, inflation fears have been reduced, but could soon return to justify a shift in the financial institution’s monetary policy. According to Yuya Hasegawa, analyst for bitbank:

    (…) if the CPI and PPI turn out to be higher than the market expects, they could rekindle inflation fear and, in turn, also justify the first-rate hike as early as this March. According to the CME’s FedWatch, almost 70% of the market participants are expecting the March rate hike, so bitcoin may be able to defend $40k in case of another sell-off, but it certainly is not the time for optimism in the short run.

    Bitcoin, More Blood In The Short Term?

    Therefore, the analyst believes $44,000 to $48,000 to operate as short-term important resistance levels. A break above the latter could push Bitcoin to the high of its current range, near $50,000, otherwise, the crypto could re-visit the lows, as it has been moving over the past weeks.

    Data from Material Indicators indicates very little support for Bitcoin below its current levels. Over $12 million in bid orders are stacked in the $39,000 to $40,000, with around the same amount in ask orders around the $44,000 to $45,000 area.

    Bitcoin BTC BTCUSD
    Bid order for Bitcoin (price in blue) that could act as support near $40,000. Source: Material Indicators

    This goes to show the uncertainty in the market, but with Bitcoin still holding on to some bullish price action. If the inflation metrics in the U.S. continue to trend to the downside or below investors’ expectations, the first crypto could resume its upside trend with more strength in the coming months.

    Related Reading | President Bukele Predicts BTC At $100k With Hope That More Countries Adopt It As Legal Tender

    Jan Wüstenfeld, analyst for CryptoQuant, wrote the following on the CPI and its potential impact on BTC’s price in the long term:

    (…) if it (inflation) continues coming down in the next months this would be the perfect excuse for the FED to reverse its hawkish stance, which would be bullish for Bitcoin.

    Bitcoin BTC BTCUSD
    Source: Jan Wüstenfeld via Twitter
    Tags: bitcoinbtcbtcusd

    Read More From Original Source

    Tags: bitcoinBTCBTCUSD
    Share1094Tweet684
    Andy K

    Andy K

    Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

    Fun Fact : Despite other staff members helping themselves daily - Andy has a 'never-ending' container of 'Jelly beans' always sat on his desk, it's magic!

    Related Posts

    Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

    Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

    by Andy K
    August 8, 2022
    0

    It is no secret that many cryptos have been experiencing a price plunge. As of June 18, the price of...

    Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

    Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

    by Andy K
    August 7, 2022
    0

    On-chain data shows the Bitcoin whale exchange inflows have remained down after hitting a local peak a while back, a...

    Bitcoin Loses Critical Level Below $23,000, Bears Prepare For New Assault?

    Bitcoin Loses Critical Level Below $23,000, Bears Prepare For New Assault?

    by Andy K
    August 6, 2022
    0

    Bitcoin has been slowly trending to the downside over this week. The first cryptocurrency by market cap seems to have...

    Bitcoin Funding Rates Turn Positive, Why The Rally May Not Be Over

    Bitcoin Funding Rates Turn Positive, Why The Rally May Not Be Over

    by Andy K
    August 6, 2022
    0

    Bitcoin funding rates had fallen below neutral two weeks ago after finally recovering from a month-long downtrend. This had sparked...

    Bitcoin Sends Mixed Signals At $23,000, Capped Upside Potential?

    Bitcoin Sends Mixed Signals At $23,000, Capped Upside Potential?

    by Andy K
    August 6, 2022
    0

    Bitcoin keeps on moving sideways as the weekend approaches and, with less trading volume on exchange platforms, the cryptocurrency hints...

    Load More

    Discussion about this post

    Partners

    Crypto Prices

    bitcoin Bitcoin
    $24,092.00
    $24,092.00
    EUR: €23,681.47
    GBP: £19,976.63
    7D Chart4.75%
    ethereum Ethereum
    $1,770.17
    $1,770.17
    EUR: €1,740.01
    GBP: £1,467.79
    7D Chart5.18%
    tether Tether
    $1.000
    $1.000
    EUR: €0.983
    GBP: £0.829
    7D Chart0.050%
    usd-coin USD Coin
    $1.00
    $1.00
    EUR: €0.984
    GBP: £0.830
    7D Chart0.070%
    binancecoin BNB
    $329.59
    $329.59
    EUR: €323.97
    GBP: £273.29
    7D Chart5.46%
    ripple XRP
    $0.382
    $0.382
    EUR: €0.375
    GBP: £0.317
    7D Chart2.57%
    cardano Cardano
    $0.543
    $0.543
    EUR: €0.534
    GBP: £0.451
    7D Chart5.14%
    polkadot Polkadot
    $9.31
    $9.31
    EUR: €9.15
    GBP: £7.72
    7D Chart9.95%
    wrapped-bitcoin Wrapped Bitcoin
    $24,099.00
    $24,099.00
    EUR: €23,688.35
    GBP: £19,982.43
    7D Chart4.87%
    litecoin Litecoin
    $63.65
    $63.65
    EUR: €62.57
    GBP: £52.78
    7D Chart4.66%
    uniswap Uniswap
    $9.15
    $9.15
    EUR: €8.99
    GBP: £7.59
    7D Chart3.47%
    chainlink Chainlink
    $8.66
    $8.66
    EUR: €8.51
    GBP: £7.18
    7D Chart11.70%
    stellar Stellar
    $0.129
    $0.129
    EUR: €0.127
    GBP: £0.107
    7D Chart4.26%
    monero Monero
    $166.95
    $166.95
    EUR: €164.11
    GBP: £138.43
    7D Chart-0.57%
    bitcoin-cash Bitcoin Cash
    $147.29
    $147.29
    EUR: €144.78
    GBP: £122.13
    7D Chart5.00%
    tezos Tezos
    $1.94
    $1.94
    EUR: €1.91
    GBP: £1.61
    7D Chart3.03%
    aave Aave
    $105.35
    $105.35
    EUR: €103.55
    GBP: £87.35
    7D Chart4.88%
    eos EOS
    $1.28
    $1.28
    EUR: €1.26
    GBP: £1.06
    7D Chart3.62%
    bitcoin-cash-sv Bitcoin SV
    $63.70
    $63.70
    EUR: €62.61
    GBP: £52.82
    7D Chart3.97%
    havven Synthetix Network
    $4.21
    $4.21
    EUR: €4.14
    GBP: £3.49
    7D Chart2.79%
    • Trending
    • Comments
    • Latest
    Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

    Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

    March 14, 2020
    Blockchain unconfirmed transaction hack 100% Working! New proof!

    Blockchain unconfirmed transaction hack 100% Working! New proof!

    March 13, 2020
    Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

    Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

    February 11, 2020
    🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

    🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

    March 31, 2020
    Ripple XRP Token

    Ripple and XRP – The Convoluted Truth Behind XRP’s Creation

    0
    Bitcoin cash hard fork. BitcoinCash Hard fork (BCH Hard fork)

    Bitcoin Cash ‘hard fork’ What you need to know about it

    0
    Crytotelegraph - Crypto News & Reviews - Bitcoin & Altcoins

    Bitcoin price news: 10 year forecast shows bitcoin ‘WON’T DIE’ Latest BTC prediction

    0
    BAKKT Futures: BAKKT Warehouse & Bitcoin Exchange

    Will Bakkt Send Bitcoin’s price skyrocketing?

    0
    Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

    Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

    August 8, 2022
    What Would Be The Ethereum Merge Impact On Cryptocurrency Miners

    What Would Be The Ethereum Merge Impact On Cryptocurrency Miners

    August 7, 2022
    Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

    Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

    August 7, 2022
    DeFiChain Community Brings Attractive Rewards For DFI ERC-20 Pairs on Uniswap

    DeFiChain Community Brings Attractive Rewards For DFI ERC-20 Pairs on Uniswap

    August 7, 2022

    Cryptotelegraph.com




    The Cryptotelegraph is a Crypto News Magazine ‘Startup’ that hunts high and low to compile the very latest crypto news and reviews from around the web, whilst at the same time producing thought provoking articles and interpretations surrounding the cryptocurrency market today!


    Read More





    Disclaimer

    Information found on Cryptotelegraph is those of referring websites (or) writers quoted. It does not represent the opinions of Cryptotelegraph on whether or not to buy, trade, sell or hold any investments. You are advised to conduct your own research before making any investment decisions. Use all provided information at your own risk. Full disclaimer.

    Crypto News

    Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

    What Would Be The Ethereum Merge Impact On Cryptocurrency Miners

    Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

    DeFiChain Community Brings Attractive Rewards For DFI ERC-20 Pairs on Uniswap

    Bitcoin Loses Critical Level Below $23,000, Bears Prepare For New Assault?

    Bitcoin Funding Rates Turn Positive, Why The Rally May Not Be Over

    Donations Welcome




    Bitcoin Address : 3AhxNswMkD5tjJJ544NRCwWhCDXHJ5GTzq

    Ethereum Address : 0x9627FB741C19e1a70E7006F2B0D0c26d14AA1816

    Bitcoin Cash Address : qq93an6n9unnu496vpcx684zekkmn4yk6g79kllf7d

    Litecoin Address : MKVphBBJkBbjSh4D6aFLds9XHE1rnS9iHW





    © Copyrights 2017 - 2021 Cryptotelegraph.com. All Rights Reserved.

    Contact    About    Privacy & Cookie Policy

    No Result
    View All Result
    • News
      • Bitcoin News
      • Ethereum News
      • Crypto News
      • Crypto Technology
      • Analysis
      • Blockchain News
      • Industry News
      • NFTs
      • ICO News
      • Press Releases
    • Market Cap
    • Exchanges
    • ICOs
    • Videos
      • Bitcoin Videos
      • Ethereum Videos
      • Altcoin Videos
      • Blockchain Videos
      • ICO Videos
    • Submit Press Release
      • Read Press Releases
    • Contact Us

    © Cryptotelegraph.com

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.