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»Macros Continue to Be a Key Driver for Crypto: Coinbase
ADOPTION NEWS

Macros Continue to Be a Key Driver for Crypto: Coinbase

By Crypto FlexsMay 18, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Macros Continue to Be a Key Driver for Crypto: Coinbase
Share
Facebook Twitter LinkedIn Pinterest Email

According to a Coinbase report, the macro environment continues to be a key driver of cryptocurrency performance.

Analysts David Han and David Duong cited the Bitcoin price rebound following the CPI decline in April as evidence of macro-driven drivers for the sector.

“Macro continues to be a key driver of cryptocurrency performance. The 3.4% year-on-year inflation figure means we will still see inflation growth by mid-February by the end of the year,” Han and Duong said.

Inflation remains a concern

But analysts still have mixed views on inflation in the U.S. and expressed concerns about ongoing shelter costs in CPI data released Wednesday.

They also noted that the slump in U.S. retail sales last month supported the view that the economy could be peaking.

“That’s not to say the sticky shelter portion of the index isn’t relevant to us, but the weak retail sales last month contributed to our view that the economy may have peaked,” Coinbase analysts said.

September interest rate cut

Following Wednesday’s CPI release, CME’s FedWatch tool predicts a 29.2% chance of a rate cut at the July FOMC meeting and a 49.7% chance of a rate cut at the September meeting. Interest rate traders had forecast a 91.3% chance of interest rates remaining unchanged at the June meeting.

The Coinbase report points out that CME’s federal funds futures are pricing in two rate cuts by the end of the year. “Overall, two 25bps rate cuts priced by federal funds futures starting in September 2024 look appropriate, as does a cyclical downward move in the multilateral USD index,” the analysts added.

According to The Block’s pricing page, the largest digital asset by market capitalization passed $66,000 at 10:52 a.m. ET, trading at $66,441, up 0.49% over the past 24 hours.

The GM 30 Index, which represents the top 30 cryptocurrencies, fell 3.06% to 135.67 during the same period.

Bitcoin price rose 0.45% on Friday. 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

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025

AI starts a cost -effective batch API for LLM request.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 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

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

NVIDIA and IQVIA join forces to drive AI innovation in healthcare

January 14, 2025

Ethereum suffers from important patterns and BULL RUN will officially begin.

December 11, 2024

The dollar collapse proximity: Peter Schiff says that the only way to end the reserve is the only way.

May 8, 2025
  • 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.