Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»Bitcoin price falls below $69,000 ahead of US inflation figures.
ADOPTION NEWS

Bitcoin price falls below $69,000 ahead of US inflation figures.

By Crypto FlexsApril 10, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price falls below ,000 ahead of US inflation figures.
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin BTC

-2.20%
It fell below the $69,000 level on Wednesday ahead of the release of US inflation data.

The U.S. Bureau of Labor Statistics is scheduled to release March 2024 Consumer Price Index (CPI) data later today. Inflation in March is expected to rise at an annual rate of 3.4%, which would be faster than the 3.2% increase recorded in February.

However, if the data shows weak inflation figures in March, this could impact the likelihood of a rate cut by the US Federal Reserve in the first half of 2024.

According to CME’s FedWatch tool, interest rate traders are 93.7% confident the Fed will keep interest rates steady in May. However, the market currently predicts a 50.8% chance of an interest rate cut at the Federal Open Market Committee in June.

Stock futures rise ahead of CPI numbers

Stock futures rose slightly on Wednesday morning ahead of important US inflation data. Futures linked to the Dow Jones Industrial Average rose 44 points, up 0.1% in early morning trading.

Additionally, the S&P 500 closed slightly higher on Tuesday, up 0.13%, while the Nasdaq closed yesterday’s trading up 0.32%.

Bitcoin closely tracks risk asset trends typically observed in indices such as Nasdaq and S&P 500. However, over the past 24 hours, digital assets have performed against this trend.

March employment indicator stronger than expected

The inflation figures come after the U.S. Department of Labor released employment figures for March on Friday. Data shows U.S. employers added 303,000 jobs, exceeding expectations and indicating the labor market remains strong despite high interest rates.

This figure was much stronger than the 200,000 job gains economists had expected. Strong employment data and resilient economic activity will likely allow the Fed to keep rates unchanged for a longer period of time.

Low unemployment and strong job growth could lead to upward pressure on wages and prices, potentially contributing to inflation. In such a scenario, the Fed may be more inclined to consider keeping interest rates steady rather than cutting them to prevent the economy from overheating.

The largest digital asset by market cap is down about 2% over the past 24 hours, trading at $68,966 at 5:50 a.m. ET, according to The Block’s pricing page. The GM 30 index, which represents the top 30 cryptocurrencies, fell 2.97% to 146.95 over the past 24 hours.

Bitcoin fell below $68,000 on Wednesday. Image: Block.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

It flashes again in July

July 6, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

GUNZ Announces $GUN Token Expansion To Solana

July 7, 2025

NEXST Launches Web3 VR Entertainment Platform With K-Pop Group UNIS As First Global Partner

July 7, 2025

Elon Musk announces that his “American Party” will accept Bitcoin and criticizes Trump’s financial bill.

July 7, 2025

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025

What Every Investor Should Know

July 6, 2025

Protecting Your Portfolio In A Volatile Market

July 6, 2025

A Trader’s Guide To Smarter Moves

July 6, 2025

Crypto Price Prediction Strategies – How Traders Forecast The Market

July 6, 2025

Causes, History, And How To Survive

July 6, 2025

A Guide To High-Risk, High-Reward Strategies

July 6, 2025

Ethereum MVRV has 1.20–1.25 and suggests that Market Peak is not visible.

July 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

GUNZ Announces $GUN Token Expansion To Solana

July 7, 2025

NEXST Launches Web3 VR Entertainment Platform With K-Pop Group UNIS As First Global Partner

July 7, 2025

Elon Musk announces that his “American Party” will accept Bitcoin and criticizes Trump’s financial bill.

July 7, 2025
Most Popular

Enter the Twilight Zone with Win-O-Mart Slots

September 1, 2024

Crypto.com signs MOU with Singapore charity approving cryptocurrency donations

December 14, 2023

How Gemini AI Improves Vacation Planning and Hosting

November 26, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.