{"id":430482,"date":"2022-04-12T17:09:18","date_gmt":"2022-04-12T14:09:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-spikes-with-stocks-as-us-inflation-hits-highest-since-1981\/"},"modified":"2022-04-12T17:09:18","modified_gmt":"2022-04-12T14:09:18","slug":"bitcoin-spikes-with-stocks-as-us-inflation-hits-highest-since-1981","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-spikes-with-stocks-as-us-inflation-hits-highest-since-1981\/","title":{"rendered":"# Bitcoin spikes with stocks as US inflation hits highest since 1981"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b0d6997020\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b0d6997020\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-spikes-with-stocks-as-us-inflation-hits-highest-since-1981\/#%E2%80%9D_Bitcoin_spikes_with_stocks_as_US_inflation_hits_highest_since_1981_%E2%80%9C\" >&#8221; Bitcoin spikes with stocks as US inflation hits highest since 1981 &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-spikes-with-stocks-as-us-inflation-hits-highest-since-1981\/#Analyst_Inflation_echoes_%E2%80%9Cmythical_stories%E2%80%9D\" >Analyst: Inflation echoes &#8220;mythical stories&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-spikes-with-stocks-as-us-inflation-hits-highest-since-1981\/#Will_RSI_deliver_for_bulls_again\" >Will RSI deliver for bulls again?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_spikes_with_stocks_as_US_inflation_hits_highest_since_1981_%E2%80%9C\"><\/span>&#8221; Bitcoin spikes with stocks as US inflation hits highest since 1981 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) saw a brief boost on April 12 after the United States saw its highest Consumer Price Index (CPI) data since 1981.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/33b5554f-7119-447d-af40-33b040fcf035.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Inflation_echoes_%E2%80%9Cmythical_stories%E2%80%9D\"><\/span>Analyst: Inflation echoes &#8220;mythical stories&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD spiking $400 instantly as the data was released.<\/p>\n<p>U.S. CPI was up 8.5% year on year and rose 1.2% in March alone, according to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bls.gov\/cpi\/\">U.S. Bureau of Labor Statistics<\/a>.<\/p>\n<p>The most in over 40 years, the results showcased the inflationary pressures active throughout the economy and implied that the Federal Reserve had much ground to make up. Criticism of the Fed was everywhere, including from the likes of traditional economists such as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/steve_hanke\/status\/1513870174402887681\">Steve Hanke<\/a>.<\/p>\n<p>&#8220;U.S. CPI came in at *8.5%* level, which means that inflation is likely already in the double digits,&#8221; Gabor Gurbacs, director of digital assets strategy at VanEck, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gaborgurbacs\/status\/1513866800915693573\">responded<\/a>.\u00a0 <\/p>\n<blockquote><p>&#8220;A few years ago these type of numbers were mythical stories associated with Venezuela, Argentina, Zimbabwe and Weimar. Central banks have failed. It\u2019s time for plan \u20bf.&#8221;<\/p><\/blockquote>\n<p>Bitcoin&#8217;s reaction was in line with correlated stock markets, the S&amp;P 500 likewise gaining 1% on the open and Asian markets recovering from previous losses.<\/p>\n<p>&#8220;Inflation is worse than you think, and Bitcoin is better than you know,&#8221; MicroStategy CEO Michael Saylor <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saylor\/status\/1513861445913616384\">commented<\/a>, echoing Gurbacs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/0142fd29-9757-4a6f-8374-f04fb953cdad.png\"><figcaption style=\"text-align: center;\"><em>U.S. CPI trends chart. Source: U.S. Bureau of Labor Statistics<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Will_RSI_deliver_for_bulls_again\"><\/span>Will RSI deliver for bulls again?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On-chain signals were meanwhile giving hope to some analysts on the day despite BTC\/USD losing $40,000 support overnight.<\/p>\n<p><strong><em>Related:\u00a0BTC stocks correlation \u2018not what we want\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Chief among these was Bitcoin&#8217;s relative strength index (RSI), now eyed as a potential pretext for a trend turnaround.<\/p>\n<p>Returning to a reading of 35 this week, RSI thus printed a pattern, which historically saw upside ensue, popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account BTCfuel noted.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw\">#BITCOIN<\/a> MEGAPUMP SOON  <\/p>\n<p>When looking at the RSI, the 2022 Bitcoin correction is very similar to the 2021. Strong BULLISH move imminent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/blmLVCxVRc\">pic.twitter.com\/blmLVCxVRc<\/a><\/p>\n<p>\u2014 BTCfuel (@BTCfuel) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BTCfuel\/status\/1513853296632643590?ref_src=twsrc%5Etfw\">April 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph reported, BTC price predictions included a leg down to $30,000 in June as a result of the macro picture.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-spikes-with-stocks-as-us-inflation-hits-highest-since-1981\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin spikes with stocks as US inflation hits highest since 1981 &#8220; Bitcoin (BTC) saw a brief boost on April 12 after the United States saw its highest Consumer Price Index (CPI) data since 1981. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Inflation echoes &#8220;mythical stories&#8221; Data from Cointelegraph Markets Pro and TradingView\u00a0showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":430483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNDYyZTM1M2UtYzlhMS00ZGI1LWIzN2ItY2RhNjlmNzE2YTZjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-430482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=430482"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430482\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/430483"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=430482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=430482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=430482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}