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“# Ethereum bounces but ETH price in danger of turning $2.3K into new resistance ” Ethereum’s native token Ether (ETH) reclaimed $2,000 in the early New York trading hours Wednesday as crypto traders assessed the Federal Reserve Chairman Jerome Powell’s prepared congressional testimony. The ETH/USD exchange rate surged 7.19% to reach its intraday high of…
“#Bitcoin continues to slide, casting doubt as an inflation hedge as costs soar” Bitcoin, which was once touted by crypto enthusiasts and wealth managers alike as a hedge against inflation, has continued to fall in recent weeks even as new data has shown costs are soaring. On Tuesday, the Labor Department announced that its Consumer…
“#Federal Reserve chair assures that inflation will pass” Federal Reserve Chairman Jerome Powell on Wednesday stuck to his position that inflation is temporary even as new data stoked concerns among Wall Street bigwigs that higher prices could be here to stay. “Inflation has increased notably and will likely remain elevated in coming months before moderating,”…
“# Bitcoin sell-off continues as BTC nears $31K ahead of Powell’s speech ” Bitcoin (BTC) price continued its downtrend Wednesday, ahead of testimony from Federal Reserve Chairman Jerome Powell. Spot BTC/USD exchange rate fell to its seventeen-day low of $31,600 following a 3.46% intraday dip. Meanwhile, CME futures tied to the pair plunged 3.41% to…
“#Popeyes stockpiling chicken amid shortages, price hikes” Fast-food giant Popeyes has been stashing chicken for months amid a nationwide shortage and price hikes — to ensure it has a healthy reserve of poultry ahead of the debut of its new nuggets later this month. The Miami-based chain, which is owned by Restaurant Brands International, has…
“# Crypto community divided on whether Bitcoin is an inflation hedge ” Amid a massive spike of the United States’ Consumer Price Index (CPI), the cryptocurrency community has divided on whether Bitcoin (BTC) is really a hedge to inflation. The CPI, an indicator measuring the average change in prices that consumers pay for a basket…
“#Inflation will only get worse if Dem $6T spending plan passes” Democrats are united in the belief that laws of economics no longer exist. That you can spend trillions upon trillions — anything you want, really — with no downside. The laws of economics respectfully disagree. Inflation is up 5.4 percent year-over-year, the largest increase…
“# Bitcoin rebounds from $33K-support as US dollar inflation comes back into focus ” Bitcoin (BTC) prices steadied on Tuesday after closing the previous session at a 3.41% loss, supported by a weakening dollar sentiment ahead of a key United States’ inflation report due later today. Spot BTC/USD exchange rate rose by a modest 1.31%…
“#Why we’re on path to a ’70s-like inflation disaster” There’s a simple reason why inflation is increasing: If the money supply rises while the demand for goods and services stays steady, the value of money will go down, which means that the price of everything else will go up. And with the federal government issuing…
“#Inflation fears hit record high in June, warns NY Fed” Americans recently polled by the Federal Reserve Bank of New York said they see inflation rising to 4.8 percent over the next 12 months, a survey record. The Fed’s Consumer Expectations study, which samples a rotating panel of 1,300 households, showed that Americans in June…