BTC lost 1,000 within just 3 minutes after the CPI came in at 8.3% year-on-year, suggesting that the U.S. inflation rate wasn't slowing down as much as what analysts predicted.
In Coin360 Daily Digest:
2.1/ BTC lost ~7% of its value in the past 24h, pushing the price from 22,600 to around 20,800 after the CPI data release.
Considering the following factors: - Energy prices down, food prices up - Core CPI rate rose 0.6% month-on-month, x2 expected - Fed's target for
2.2/ inflation is 2% annually - DXY climbed above 109 for the first time since Sept 9 -> Analysts expected two more 75 bps hikes before slowing down in Dec and Jan
Some are even weighing the chance of a 100 bps rate hike:
3/ ETH dropped by 6% in the past 24h, sending the price below 1,620. This, to some investors, increased the Merge's risk to be a "sell the news" event:
Some managed to record a minor gain, including LUNC XEC TWT USTC PHB.
4/ @Fidelity is reportedly considering providing clients with access to Bitcoin trading via its brokerage platform:
5/ @northzoneVC announced the launch of a €1B fund in the 10th funding round, its "largest fundraise to date." Crypto and fintech startups will be its focus.
7/ @COSIMOventures is aiming to raise some 200M for a new vehicle that plans to bet on staking opportunities.
10/ @AbraGlobal is launching the first US-regulated crypto bank. All customer deposits into Abra Bank are set to be converted into stablecoins that accrue interest similarly to traditional banks.
11/ @linuxfoundation announced its intention to launch the OpenWallet Foundation to develop a secure open-source engine that anybody can use to build an interoperable digital wallet.
12/ @rarible formed a partnership with @Immutable to allow users to buy and sell NFTs from @GodsUnchained @GuildOfGuardian @illuviumio and other popular Immutable blockchain-based games on its marketplace.
14/ Other news:
@FTX_Official stutters as crypto markets tank over CPI numbers:
@Ethereum is grappling with the risk of censorship after The Merge:
15/ @HuobiGlobal to delist 7 privacy coins, citing ‘latest financial regulations’:
Canadian Prime Minister attacks opposition for recommending Bitcoin as inflation hedge:
@myePayments to close the business:
Canadian Prime Minister Justin Trudeau Attacks Opposition for Recommending Bitcoin as Inflation Hedge
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Telegram: Contact @COIN360comaimg class="featured-image img-fluid" src="/media/blog_lnk0/1569750744043225088_1569750817825263617_1.jpg" alt="Telegram: Contact
@COIN360comblockquoteblockquotea href="https://t.me/COIN360Channel">Telegram: Contact @COIN360Channelaimg class="featured-image img-fluid" src="/media/blog_lnk0/1569750744043225088_1569750817825263617_2.jpg" alt="Telegram: Contact @COIN360Channel">This post is based on this twitter thread.