BITCOIN- Awaiting CPI Inflation Data
Bitcoin suffered huge losses (again) this morning : Bitcoin drops below $40,000, almost wiping out gains from Biden’s crypto executive order
Bitcoin was down more than 7% at $39,077.79 at 6:55 a.m. ET on Thursday, according to data from CoinDesk.
On Wednesday, bitcoin surged as high as $42,577 after starting the day trading at around $38,744.
Other cryptocurrencies such as ether and XRP were also trading lower.
Wednesday’s spike came as optimism around Biden’s executive order on cryptocurrencies mounted. The order focuses on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness in the industry, financial inclusion and responsible innovation.
Some high-profile cryptocurrency industry players praised the U.S. government’s move. Cameron Winklevoss, co-founder of the Gemini cryptocurrency exchange, called it a “watershed moment.”
February CPI preview: Consumer prices likely set fresh 40-year highhttps://finance.yahoo.com/news/consumer-price-index-cpi-inflation-february-2022-203614415.html
INFLATION REPORT INCOMING?
We are BULLISH on Bitcoin (at the same time short on DAX and long on Crude Oil)
One Love,
the FXPROFESSOR
Bitcoin was down more than 7% at $39,077.79 at 6:55 a.m. ET on Thursday, according to data from CoinDesk.
On Wednesday, bitcoin surged as high as $42,577 after starting the day trading at around $38,744.
Other cryptocurrencies such as ether and XRP were also trading lower.
Wednesday’s spike came as optimism around Biden’s executive order on cryptocurrencies mounted. The order focuses on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness in the industry, financial inclusion and responsible innovation.
Some high-profile cryptocurrency industry players praised the U.S. government’s move. Cameron Winklevoss, co-founder of the Gemini cryptocurrency exchange, called it a “watershed moment.”
February CPI preview: Consumer prices likely set fresh 40-year highhttps://finance.yahoo.com/news/consumer-price-index-cpi-inflation-february-2022-203614415.html
INFLATION REPORT INCOMING?
We are BULLISH on Bitcoin (at the same time short on DAX and long on Crude Oil)
One Love,
the FXPROFESSOR
💎 BitMart VIP: bitmart.com/invite/FxProfessor/en-US – Find details on fxprofessor.com
🌟 CRGPT Token: Join the Crypto AI Revolution cryptogpt.io/
🌐 Public Telegram: t.me/fxprofessor88
🌟 CRGPT Token: Join the Crypto AI Revolution cryptogpt.io/
🌐 Public Telegram: t.me/fxprofessor88
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.