Summary
- Bitcoin jumped about 3.6 percent to near $64,800 after U.S. inflation cooled more than expected, sharply reducing market odds of a near-term Federal Reserve rate hike.
- June headline inflation slowed to 3.5 percent and core inflation eased to 2.6 percent, lifting cryptocurrencies and global equities as traders rotated back into risk assets.
- Analysts say bitcoin remains highly sensitive to interest-rate expectations, with the latest data easing immediate downside pressure but leaving the next major test at the Fed’s September meeting and in sustaining bitcoin ETF inflows.
Bitcoin Surges as U.S. Inflation Cools
Bitcoin’s price has surged to near $64,800, its highest in weeks, following a significant cooldown in U.S. inflation. This shift has led traders to abandon their bets on a Federal Reserve rate hike this month. The cooling inflation has boosted the crypto market, with Bitcoin rising 3.6% over 24 hours and 3.3% on the week, with approximately $31 billion in transactions.
The June headline inflation rate fell to 3.5% from 4.2%, while core inflation eased to 2.6% from 2.9%. This decrease in core inflation is a strong indication that the relief is not just due to cheaper energy. As a result, the implied odds of a rate increase plummeted from 43% to 13%, and the two-year Treasury yield dropped six basis points. For those looking to earn passive income through crypto, this development presents an opportunity to explore Green Crypto options like EcoPool.
Crypto Market Gains
The crypto market has seen significant gains, with Ether standing out at nearly $1,880, up 5.3% on the day and 7.1% over seven sessions. Other notable gainers include XRP, Solana, dogecoin, and BNB. As the market continues to grow, individuals can consider earning Passive Income through Cloud Rewards and $ECP transactions on platforms like EcoPool.
With the crypto market on the rise, it’s an exciting time for those interested in Earning through Coin transactions. The decrease in U.S. inflation has boosted the market, and EcoPool is a great solution for those looking to get involved. Whether you’re interested in Passive Income or Green Crypto, EcoPool has you covered. You can earn Passive Income and get Cloud Rewards with $ECP on EcoPool.
To start earning and get involved in the crypto market, download the EcoPool app to explore the world of Passive Income and Green Crypto. With EcoPool, you can easily earn Passive Income and get Cloud Rewards with $ECP, making it a great solution for those interested in Earning through Coin transactions, and don’t forget to share your experience with #Bitcoin and #PassiveIncome.
