{"id":483081,"date":"2022-08-10T17:21:23","date_gmt":"2022-08-10T14:21:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-sees-24k-ethereum-hits-2-month-high-as-us-inflation-shrinks\/"},"modified":"2022-08-10T17:21:23","modified_gmt":"2022-08-10T14:21:23","slug":"bitcoin-price-sees-24k-ethereum-hits-2-month-high-as-us-inflation-shrinks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-sees-24k-ethereum-hits-2-month-high-as-us-inflation-shrinks\/","title":{"rendered":"# Bitcoin price sees $24K, Ethereum hits 2-month high as US inflation shrinks"},"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-6a414faa80d88\" 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-6a414faa80d88\" 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-price-sees-24k-ethereum-hits-2-month-high-as-us-inflation-shrinks\/#%E2%80%9D_Bitcoin_price_sees_24K_Ethereum_hits_2-month_high_as_US_inflation_shrinks_%E2%80%9C\" >&#8221; Bitcoin price sees $24K, Ethereum hits 2-month high as US inflation shrinks &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-sees-24k-ethereum-hits-2-month-high-as-us-inflation-shrinks\/#CPI_cuts_risk_assets_much-needed_slack\" >CPI cuts risk assets much-needed slack<\/a><\/li><\/ul><\/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-price-sees-24k-ethereum-hits-2-month-high-as-us-inflation-shrinks\/#Dollar_dives_in_step_as_Ethereum_beats_multi-month_best\" >Dollar dives in step as Ethereum beats multi-month best<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_sees_24K_Ethereum_hits_2-month_high_as_US_inflation_shrinks_%E2%80%9C\"><\/span>&#8221; Bitcoin price sees $24K, Ethereum hits 2-month high as US inflation shrinks &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to be slowing.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/ce6dc0c0-9741-4323-aa35-b64c13f5808f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"CPI_cuts_risk_assets_much-needed_slack\"><\/span>CPI cuts risk assets much-needed slack<span class=\"ez-toc-section-end\"><\/span><\/h3>\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>\u00a0confirmed hourly gains of around $1,000 after U.S. Consumer Price Index (CPI) data for July showed a slowdown versus the previous month.<\/p>\n<p>While managing $24,179 on Bitstamp, BTC\/USD nonetheless did not attract enough momentum to challenge levels from the day prior.<\/p>\n<p>Nonetheless, relief among traders was palpable, as declining inflation should signal to the Federal Reserve that less aggressive interest rate hikes are necessary going forward. This,\u00a0 in turn, should reduce pressure on risk assets, including crypto.<\/p>\n<p>Year-on-year CPI inflation came in at 8.5%, 0.2% below expectations, while month-on-month, the figure was unchanged from June.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Over to you Sir Powell, you know what to do. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qwMbdtriNm\">pic.twitter.com\/qwMbdtriNm<\/a><\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1557345382820110341?ref_src=twsrc%5Etfw\">August 10, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Markets now have a pretty clear run until regional Fed surveys in a weeks or so. I expect those to be significantly weaker,&#8221; Raoul Pal, founder of Global Macro Investor, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RaoulGMI\/status\/1557364131392638976\">reacted<\/a>. <\/p>\n<blockquote><p>&#8220;Peak inflation gives way to peak growth fear. I do think markets will react positively to weak growth, not negatively, broadly speaking.&#8221;<\/p><\/blockquote>\n<p>Blockware lead insights analyst, William Clemente, was more cautious, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1557344906569555969\">describing<\/a> the rally in risk assets as continuing &#8220;short term&#8221; on the back of the print.<\/p>\n<p>Faith in the Fed cooling its aggressive rate hike cycle meanwhile played out almost im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely, with bets of a 75-basis-point hike in September starkly reduced in favor of 50 basis points.<\/p>\n<p>&#8220;Jul CPI is bullish especially for tech stocks,&#8221; markets commentator Holger Zschaepitz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1557349593683197959\">added<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dollar_dives_in_step_as_Ethereum_beats_multi-month_best\"><\/span>Dollar dives in step as Ethereum beats multi-month best<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Celebrating the CPI event more than Bitcoin, meanwhile, was Ether (ETH), which capitalized on the mood to post its highest levels since June 7.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin dominance hits 6-month lows as metric proclaims new &#8216;alt season&#8217;<\/em><\/strong><\/p>\n<p>At $1,847, ETH\/USD gained 11.5% on the day, fueling hopes that the crypto rally could be more than a fakeout.<\/p>\n<p>&#8220;Some of you forget that the market can pump and it actually not be a trap. Especially if fundamentally driven,&#8221; trader and commentator Josh Rager <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Rager\/status\/1557359751515832320\">tweeted<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/787307e7-46be-477c-9048-8e4e965f187a.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>A clear loser on the day, however, was the U.S. dollar, which extended a downtrend in place since mid-July on the CPI print.<\/p>\n<p>The U.S. dollar index (DXY) lost 1.3%, now targeting its 100-day moving average, according to popular trader Pierre.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24DXY&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DXY<\/a> &#8211; D1<\/p>\n<p>Hard to make it clearer\/cleaner, I guess simple TA works too on US ponzi.<\/p>\n<p>Until D1 trend reclaimed, I guess D1 100 MA @ 103-104 doable but what do I know. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FeGFYBFcdi\">https:\/\/t.co\/FeGFYBFcdi<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/lhQEcbIxTK\">pic.twitter.com\/lhQEcbIxTK<\/a><\/p>\n<p>\u2014 Bierre (@pierre_crypt0) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pierre_crypt0\/status\/1557367830420590594?ref_src=twsrc%5Etfw\">August 10, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Sven Henrich, founder of analytics firm NorthmanTrader, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NorthmanTrader\/status\/1557349403110916097\">described<\/a> DXY as &#8220;getting crushed.&#8221;<\/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-price-sees-24k-ethereum-hits-2-month-high-as-us-inflation-shrinks\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price sees $24K, Ethereum hits 2-month high as US inflation shrinks &#8220; Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI cuts risk assets much-needed slack Data from Cointelegraph Markets Pro and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":483082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvZWU5YTYzMGYtZjJlZi00YmM5LWE3ODUtZDYzOGExYTQzMmFkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,76153,82402,74891,70551,73785],"class_list":["post-483081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-dollar","tag-ether-price","tag-ethereum","tag-inflation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/483081","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=483081"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/483081\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/483082"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=483081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=483081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=483081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}