Bitcoin strikes at all 5 % before diving, amid fears of inflation

Ethereum, the second largest cryptocurrency in the world, depending on the market value, also hovering near its highest levels ever, but it decreased by 4 % during the past 24 hours at about 4,500 dollars, each. Binance. However, the distinctive symbol price increased over the past month to increase approximately 50 %.

The total market value of all cryptocurrencies decreased by approximately 4 % over the past day to about $ 4.07 trillion, according to Coingecko, and the S&P 500 decreased slightly on Thursday since the markets closed the last time.

On Wednesday, Bitcoin’s increase followed a bout of optimism about the possibility of price discounts in September of the Federal Reserve. On Tuesday, work statistics office I mentioned Just a moderate increase in inflation in July 2.7 %. Soon analysts predicted that September price discounts – which are likely to push investors to take our treasury money and put them in more dangerous bets such as Bitcoin – almost given, according to the CME’s Group Fedwatch tool.

“The certainty of American interest rates raises the appetite of risks and presses dollars,” said Axel Rudolph, chief technical analyst at IG, a US -based financial company.

However, Thursday morning, The BLS I mentioned An increase in anxiety rates in July by 0.9 % in the goods made by American producers. This was the biggest increase since June 2022, and the encryption market fell alongside the news.

“The retreating of Bitcoin after it reached its highest level is similar to the classic match of profit, amplifying it by total tensions,” said Thomas Perfyumo, a world economist in Krakin, one of the largest encryption exchanges in the United States.

Kyle Shas, founder and president of the MV Global Projects, Perfumo. “This frightens people,” said about the latest BLS report.

Despite the withdrawal, the encryption market is still near its highest level ever. The total market value continues to move more than 4 trillion dollars, a sign that has expressed The first time In July, amid a boom in the stock market and friendly policies of encryption by President Donald Trump.