Cryptocurrency

Bitcoin

Impact

April

Ethena

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cryptocurrency-market-takes-a-hit-as-inflation-rates-surge-beyond-predictions" rel="noopener noreferrer nofollow">Cryptocurrency Market Takes a Hit as Inflation Rates Surge Beyond Predictions</a><br></p>
<p style="text-align: justify">Recent market trends reveal a significant downturn in <a href="https://en.bitcoinhaber.net/us-treasury-urges-stricter-control-over-international-crypto-transactions" rel="noopener noreferrer nofollow">cryptocurrency</a> values, with <a href="https://en.bitcoinhaber.net/bitcoins-price-outlook-could-btc-fall-to-12000" rel="noopener noreferrer nofollow">Bitcoin</a> spearheading the decline since April 8. Other cryptocurrencies, commonly referred to as altcoins, have also endured substantial sell-offs. Investors remain on edge, anticipating potential interest rate adjustments in light of the latest inflation data from the United States. This critical economic update indicated both monthly and annual inflation rates have exceeded expectations for March.</p>
<h2 id="surge-in-us-inflation-surprises-analysts">Surge in US Inflation Surprises Analysts</h2>
<p style="text-align: justify">Unexpectedly, the inflation rate in the US for March showed a 0.4% rise from the previous month and an annual increase of 3.5%, surpassing projections of a 0.3% monthly and a 3.4% annual uptick. These figures have contributed to a cautious sentiment in the financial markets, including the volatile cryptocurrency sector.</p>
<p style="text-align: justify">When excluding food and energy costs, which are prone to unpredictable fluctuations, the core inflation rate still posted a 0.4% monthly increase, again topping forecasts. Annually, core inflation climbed to 3.8%, slightly above the anticipated 3.7% rise.</p>
<h2 id="impact-on-bitcoin-and-other-cryptocurrencies">Impact on Bitcoin and Other Cryptocurrencies</h2>
<p style="text-align: justify">Bitcoin’s valuation plunged below the $70,000 mark, reaching a low of $68,381 before the announcement regarding inflation. However, the leading digital currency made a slight recovery, trading marginally above $69,000. Similarly, <a href="https://en.bitcoinhaber.net/ethereums-price-stability-threatened-expert-cautions" rel="noopener noreferrer nofollow">Ethereum</a>, the second-largest cryptocurrency by market capitalization, experienced a dip but managed to hover just over the $3,500 mark.</p>
<p style="text-align: justify">In the altcoin market, Nervos Network, Bittensor, and Ethena stood out with notable gains. Conversely, altcoins such as Gala, dogwifhat, and Aptos were among the largest losers, each seeing a significant drop in their respective values.</p>
<h2 id="notes-for-the-user">Notes for the User</h2>
<ul>
 <li>Bitcoin remains a key indicator of market sentiment, with its value fluctuations affecting the broader cryptocurrency market.</li>
 <li>Economic indicators such as inflation rates can have immediate and noteworthy effects on cryptocurrency prices.</li>
 <li>Investors may need to monitor traditional economic metrics closely to make informed decisions in the crypto market.</li>
</ul>
<p style="text-align: justify">These recent financial developments underscore the intricate relationship between traditional economic indicators and the emerging cryptocurrency market, signaling a challenging environment for investors.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cryptocurrency-market-takes-a-hit-as-inflation-rates-surge-beyond-predictions" rel="noopener noreferrer nofollow">Cryptocurrency Market Takes a Hit as Inflation Rates Surge Beyond Predictions</a></h5>

Cryptocurrency Market Takes a Hit as Inflation Rates Surge Beyond Predictions

Table of Contents

BH NEWS

Другие статьи, опубликованные 10 апр. 2024 г.

Skilled Workforce in Demand:Report Emphasizes Learning Soft Skills in Workplace

Next Cryptos to the Moon: Exploring Future Moves of Polkadot, Avalanche, Solana, and Innnovative ...

Cardano (ADA) Price Faces Final Dip Before Rally to $1.70

Experts Name BlockDAG Best Crypto Investment of 2024 Following $15.5M Presale & Whitepaper Launch...

Daily Market Review: BTC, TAO, FTM, PENDLE, TRX

Toncoin (TON) Overtakes Cardano (ADA) to Claim 9th Spot in Market Cap

Join our free newsletter for daily crypto updates!