• Market Cap: $3,396,716,638,193.47
  • 24h Vol: $112,994,002,502.80
  • BTC Dominance: 61.69%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Bitcoin circles $20K pre CPI amid warning Fed risks ‘blowing up’ economy

Jon Hartney by Jon Hartney
July 13, 2022
in Bitcoin, Blockchain, Business, Market
0
Bitcoin circles $20K pre CPI amid warning Fed risks ‘blowing up’ economy
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

“Highly elevated” CPI numbers due in hours as one theory suggests that there is already no more room for Fed rate hikes.

Related articles

$150,000 Bitcoin Is In Play—Unless This One Macro Metric Snaps

$150,000 Bitcoin Is In Play—Unless This One Macro Metric Snaps

June 18, 2025
Bitcoin and HYPE could get $844M total windfall from 4 public US firms

Bitcoin and HYPE could get $844M total windfall from 4 public US firms

June 18, 2025

Bitcoin (BTC) rebounded from overnight lows on July 13 as markets nervously waited for United States inflation data.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Countdown to “highly elevated” inflation reveal

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing from $19,250 to $19,900 at the time of writing, up 3.3% on the day.

With three hours to go until the release of Consumer Price Index (CPI) data for June, crypto markets showed little sign of advance volatility.

Previously, the U.S. government had warned that the CPI figures were expected to be “highly elevated,” with unofficial projections from other sources indicating a year-on-year inflation increase of nearly 9%.

NEW #inflation record high on the year!

At least that's what I'm now forecasting for June CPI, released in 5 days

I forecast 8.8% year over year, breaking the previous
41 year record of 8.6% set last month

Month over month this would be 1.2% pic.twitter.com/5IochMzP6f

— TheHappyHawaiian (@ThHappyHawaiian) July 9, 2022

“CPI coming out at 8.8% today. Watch. I’ve got a strong feeling this is the number,” popular crypto YouTuber Ben Armstrong agreed.

Biding its time meanwhile was the U.S. dollar index (DXY), which lingered at just above 108 after a corrective move from fresh twenty-year highs.

U.S. dollar Index (DXY) 1-hour candle chart. Source: TradingView

Analyzing the potential for the Federal Reserve to continue interest rate hikes to tame inflation, meanwhile, one analyst argued that there was already little, if any, room for maneuver.

“We are at the point where the fed would usually halt rate hikes and begin easing again,” Reddit and Twitter user TheHappyHawaiian explained.

“As they gear up for 75bp in a couple weeks, they would be knowingly blowing up the system.”

An accompanying “Fed Pivot Indicator” chart showed Fed rate direction change over the past thirty-three years, and suggested that hikes had already hit their maximum allowed levels.

Fed Pivot Indicator chart. Source: @TheHappyHawaiian/ Twitter

Trader highlights $22,000 importance

Altcoins were somewhat predictably in lockstep with BTC ahead of the inflation numbers.

Related: Ethereum price risks ‘bear flag’ breakdown, 20% drop against Bitcoin

Ether (ETH), after losing 8% the day prior, circled $1,075 at the time of writing, still down 6.3% over the past seven days.

ETH/USD 1-hour candle chart (Binance). Source: TradingView

Other tokens in the top ten cryptocurrencies by market cap were static on daily timeframes.

For Cointelegraph contributor Michaël van de Poppe, however, there was still reason to believe that selling pressure was circumstantial rather than a longer-term trend.

“Yes, the markets should have been correcting, but right now, the valuations of crypto and Bitcoin are way lower than what they should be, due to forced selling from 3AC, $LUNA, and more,” he argued.

“That’s why a break through $22K is going to accelerate the price to $30K as well.”

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.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

$150,000 Bitcoin Is In Play—Unless This One Macro Metric Snaps

$150,000 Bitcoin Is In Play—Unless This One Macro Metric Snaps

by Jon Hartney
June 18, 2025
0

Bitcoin may be gearing up for a renewed surge, but according to trader Josh Olszewicz, the bullish setup is walking...

Bitcoin and HYPE could get $844M total windfall from 4 public US firms

Bitcoin and HYPE could get $844M total windfall from 4 public US firms

by Jon Hartney
June 18, 2025
0

DDC Enterprise and Fold Holdings have confirmed raises worth a total of $778

XRP Price Slides Under Support Level, Selling Pressure Intensifies

XRP Price Slides Under Support Level, Selling Pressure Intensifies

by Jon Hartney
June 18, 2025
0

XRP price started a fresh decline below the $220 zone The price is now consolidating losses and might decline further...

Spanish bank BBVA suggests clients make 7% crypto allocation

Spanish bank BBVA suggests clients make 7% crypto allocation

by Jon Hartney
June 18, 2025
0

BBVA is advising affluent clients to allocate up to 7% of their portfolios to

Tether Enforces Freeze On $12 Million In Tron Funds Over Illicit Activity

Tether Enforces Freeze On $12 Million In Tron Funds Over Illicit Activity

by Jon Hartney
June 18, 2025
0

Tether acted swiftly Sunday when it froze $123 million worth of USDT on the Tron blockchain Based on reports from...

Load More
  • Trending
  • Comments
  • Latest
SUI Price Hits All-Time High – But Questions About Valuation Remain

SUI Price Hits All-Time High – But Questions About Valuation Remain

October 17, 2024
Solana Targets $160 Resistance As TVL Hits New Yearly Highs

Solana Targets $160 Resistance As TVL Hits New Yearly Highs

October 17, 2024
Bitcoin Price Holds Firm: Can It Power Toward New Gains?

Bitcoin Price Holds Firm: Can It Power Toward New Gains?

October 17, 2024
Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

October 17, 2024
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
$150,000 Bitcoin Is In Play—Unless This One Macro Metric Snaps

$150,000 Bitcoin Is In Play—Unless This One Macro Metric Snaps

June 18, 2025
Bitcoin and HYPE could get $844M total windfall from 4 public US firms

Bitcoin and HYPE could get $844M total windfall from 4 public US firms

June 18, 2025
XRP Price Slides Under Support Level, Selling Pressure Intensifies

XRP Price Slides Under Support Level, Selling Pressure Intensifies

June 18, 2025
Spanish bank BBVA suggests clients make 7% crypto allocation

Spanish bank BBVA suggests clients make 7% crypto allocation

June 18, 2025

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • $150,000 Bitcoin Is In Play—Unless This One Macro Metric Snaps June 18, 2025
  • Bitcoin and HYPE could get $844M total windfall from 4 public US firms June 18, 2025
  • XRP Price Slides Under Support Level, Selling Pressure Intensifies June 18, 2025
  • Spanish bank BBVA suggests clients make 7% crypto allocation June 18, 2025
  • Tether Enforces Freeze On $12 Million In Tron Funds Over Illicit Activity June 18, 2025

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • Steakhouse EURCV Morpho VaultSteakhouse EURCV Morpho Vault(STEAKEURCV)$0.000000-100.00%
  • FibSwap DEXFibSwap DEX(FIBO)$0.0084659.90%
  • TruFin Staked APTTruFin Staked APT(TRUAPT)$8.020.00%
  • bitcoinBitcoin(BTC)$84,372.003.58%
  • ethereumEthereum(ETH)$1,885.365.68%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.186.84%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • binancecoinBNB(BNB)$617.995.03%
  • Wrapped SOLWrapped SOL(SOL)$143.66-2.32%
  • solanaSolana(SOL)$128.974.23%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.1736117.78%
  • cardanoCardano(ADA)$0.687.61%
  • tronTRON(TRX)$0.2342340.79%
  • staked-etherLido Staked Ether(STETH)$1,884.065.48%
  • Gaj FinanceGaj Finance(GAJ)$0.0059271.46%
  • Content BitcoinContent Bitcoin(CTB)$24.482.55%
  • USD OneUSD One(USD1)$1.000.11%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$84,309.003.84%
  • ToncoinToncoin(TON)$4.157.66%
  • UGOLD Inc.UGOLD Inc.(UGOLD)$3,042.460.08%
  • ParkcoinParkcoin(KPK)$1.101.76%
  • chainlinkChainlink(LINK)$14.027.76%
  • leo-tokenLEO Token(LEO)$9.211.17%
  • stellarStellar(XLM)$0.2743585.70%
  • avalanche-2Avalanche(AVAX)$19.647.71%
  • Wrapped stETHWrapped stETH(WSTETH)$2,256.395.40%
  • USDSUSDS(USDS)$1.00-0.01%
  • SuiSui(SUI)$2.429.03%
  • shiba-inuShiba Inu(SHIB)$0.0000137.71%
  • hedera-hashgraphHedera(HBAR)$0.17284810.00%
  • Yay StakeStone EtherYay StakeStone Ether(YAYSTONE)$2,671.07-2.84%
  • polkadotPolkadot(DOT)$4.257.34%
  • litecoinLitecoin(LTC)$85.265.04%
  • bitcoin-cashBitcoin Cash(BCH)$314.248.23%
  • mantra-daoMANTRA(OM)$6.301.94%
  • Pundi AIFXPundi AIFX(PUNDIAI)$16.000.00%
  • PengPeng(PENG)$0.60-13.59%
  • Bitget TokenBitget Token(BGB)$4.664.95%
  • wethWETH(WETH)$1,884.285.66%
  • Ethena USDeEthena USDe(USDE)$1.00-0.04%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.00-0.18%
  • MurasakiMurasaki(MURA)$4.23-13.71%
  • Black PhoenixBlack Phoenix(BPX)$3.351,000.00%
  • Pi NetworkPi Network(PI)$0.714.53%
  • HyperliquidHyperliquid(HYPE)$13.729.80%
  • Wrapped eETHWrapped eETH(WEETH)$2,003.675.53%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$28.350.76%
  • moneroMonero(XMR)$217.841.31%
  • Zypto TokenZypto Token(ZYPTO)$0.037139-3.47%
  • uniswapUniswap(UNI)$6.217.66%
  • AptosAptos(APT)$5.395.79%
  • PepePepe(PEPE)$0.00000811.37%
  • daiDai(DAI)$1.00-0.01%
  • nearNEAR Protocol(NEAR)$2.635.26%
  • XT.comXT.com(XT)$3.08-1.65%
  • Layer One XLayer One X(L1X)$23.35454.66%
  • sUSDSsUSDS(SUSDS)$1.050.05%
  • okbOKB(OKB)$48.762.12%
  • gatechain-tokenGate(GT)$22.883.58%
  • crypto-com-chainCronos(CRO)$0.1015853.46%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$84,342.003.68%
  • MantleMantle(MNT)$0.814.44%
  • Tokenize XchangeTokenize Xchange(TKX)$33.460.86%
  • internet-computerInternet Computer(ICP)$5.517.85%
  • ethereum-classicEthereum Classic(ETC)$17.074.81%
  • OndoOndo(ONDO)$0.817.47%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.12%
  • aaveAave(AAVE)$168.6110.19%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.170.30%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • Official TrumpOfficial Trump(TRUMP)$10.354.36%
  • vechainVeChain(VET)$0.0233636.04%
  • cosmosCosmos Hub(ATOM)$4.538.09%
  • fantomFantom(FTM)$0.70-1.56%
  • BittensorBittensor(TAO)$231.277.72%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • EthenaEthena(ENA)$0.3616194.37%
  • render-tokenRender(RENDER)$3.6710.91%
  • filecoinFilecoin(FIL)$2.927.72%
  • CelestiaCelestia(TIA)$3.181.75%
  • Black AgnusBlack Agnus(FTW)$0.000183423.46%
  • Lombard Staked BTCLombard Staked BTC(LBTC)$84,465.004.02%
  • POL (ex-MATIC)POL (ex-MATIC)(POL)$0.2063993.13%
  • KaspaKaspa(KAS)$0.0682239.38%
  • STAUSTAU(STAU)$0.17397910.95%
  • FasttokenFasttoken(FTN)$4.020.01%
  • Sonic (prev. FTM)Sonic (prev. FTM)(S)$0.5212.98%
  • algorandAlgorand(ALGO)$0.1896979.65%
  • ORA CoinORA Coin(ORA)$4.885.92%
  • ArbitrumArbitrum(ARB)$0.3397526.22%
  • Arbitrum Bridged USDT (Arbitrum)Arbitrum Bridged USDT (Arbitrum)(USDT)$1.000.07%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • kucoin-sharesKuCoin(KCS)$11.231.19%
  • Solv Protocol SolvBTCSolv Protocol SolvBTC(SOLVBTC)$84,076.003.32%
  • fetch-aiArtificial Superintelligence Alliance(FET)$0.4856098.68%
  • optimismOptimism(OP)$0.776.43%
  • StoryStory(IP)$4.75-2.68%