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Cryptocurrency Markets React to U.S. Inflation Figures and ...
2024-05-15 00:01:38

Cryptocurrency Markets React to U.S. Inflation Figures and Market Volatility

Bitcoin and Ether prices drop as traders focus on U.S. inflation reports. Coinbase experiences outage amid market fluctuations.

Futures markets hint at potential Bitcoin uptrend despite recent dip. GameStop's rally influences meme coins surge.

Stock indexes rise cautiously, awaiting Federal Reserve Chairman's speech.

Related news on that topic:

The Resurgence of Meme Stocks: GameStop and AMC Surge Once Again

GameStop and AMC stocks are surging in a revival of meme stock mania, reminiscent of the 2021 frenzy, but with analysts noting differences in the current enthusiasm, suggesting it may not reach previous levels. The market is witnessing increased retail interest in these stocks, although the inflows are not as substantial as seen in early 2021. Despite the surge, experts are cautious, indicating that the current market action does not reflect a bubble-like atmosphere similar to past stock market frenzies. Short sellers are facing significant losses, with GameStop shorts turning into losses of $852 million by the recent close, illustrating the volatility associated with these stocks. The resurgence, fueled by retail traders and social media hype, is being closely watched by investors, with concerns over rising inflation and the timing of US Federal Reserve's monetary policy decisions in the backdrop of the meme stock resurgence.

Market Focus: U.S. Inflation Data and Fed's Monetary Policy

Investors are keeping a close eye on upcoming U.S. inflation data and Federal Reserve Chair Jerome Powell's speech, with expectations for slight increases in producer prices. Recent reports show higher inflation in April but with some easing concerns, particularly in health care prices. Stock market reactions varied, with the Dow Jones rising on inflation data while the DAX remains cautious. The crypto market also witnessed drops ahead of the inflation data release, indicating a broader market sensitivity to economic indicators.

Read 7 more recent news on this topic

The press radar on this topic:

CoinDesk
14. Mai 2024 um 12:01

First Mover Americas: Bitcoin Dips Below $62K Ahead of U.S. Inflation Figures

Finance
Economy
Technology
Bitcoin fell below $62,000, Ether declined, and attention is on inflation reports in the U.S. The rally in GameStop stock triggered a surge in meme coins. Coinbase experienced a three-hour outage affecting users.
The Defiant
14. Mai 2024 um 17:31

Crypto Markets Drop Ahead of U.S. Inflation Data

Finance
Crypto markets dropped as traders awaited U.S. inflation data. The Producer Price Index for April exceeded expectations. Bitcoin, Ether, and Solana all experienced declines in value.
Cointelegraph.com News
14. Mai 2024 um 20:14

Bitcoin price loses steam, but futures markets forecast upside above $70K

Economy
Finance
Bitcoin price dropped to $61,000 after failing to break above $63,500, but futures markets suggest a potential move above $70,000. Despite inflation concerns affecting risk-on assets, Bitcoin bulls remain confident in the long-term uptrend. Professional traders still see potential for Bitcoin to reach higher prices, with options market indicators remaining neutral.
Yahoo News
14. Mai 2024 um 21:46

Yahoo Finance

Finance
Economy
US indexes edge higher as traders analyze inflation data, with PPI beating estimates in April but concerns remain for tomorrow's CPI. Federal Reserve Chairman Jerome Powell to speak later today. Meme stocks GameStop and AMC surge after cryptic tweet from Keith Gill.
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