Consumer Price Index
US Inflation Rose to Nearly 4-Decade High of 7% in December
The U.S. Labor Department's consumer price index (CPI), the most widely used gauge for tracking inflation, rose to an annual clip of 7%, hitting predictions made by economists. This marks the highest increase since June 1982 and topping November's 6.8% increase. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
US Inflation Rose to Nearly Four-Decade High of 7% in December
The consumer price index is closely watched by bitcoin investors who view the cryptocurrency as a hedge against inflation.
Traders Will Be Watching if December CPI Confirms Inflation at 4-Decade High
Tighter Fed monetary policy could put more downward pressure on risky assets from stocks to cryptocurrencies.
US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls
Prices for bitcoin, seen by a growing number of investors as a hedge against inflation, jumped 2% after the CPI report from the U.S. Department of Labor’s Bureau of Labor Statistics.
Why Rising Inflation Could Be Good for Bitcoin
Bitcoin rises to a fresh all-time high after the U.S. Bureau of Labor Statistics releases the October consumer price index (CPI) number, the highest since 1990. CoinDesk's Galen Moore discusses why the inflation increase "would be good for bitcoin," adding "[inflation] tends to seem to drive bitcoin and the stock market apart." Plus, reasons behind Coinbase's user numbers and revenue decline for the third quarter.
Bitcoin Rallies to New Record High After CPI Release
New data on bitcoin's hourly price chart shows a rally to new record highs in the wake of a hotter-than-expected October reading in the U.S. consumer price index (CPI). The report showed the cost of living in the U.S. rose 6.2% in October from a year earlier, the fastest since 1990. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
US Inflation’s 3-Decade-High Surge Provides Tailwind for Bitcoin
The Labor Department’s Consumer Price Index is closely tracked by bitcoin traders because the cryptocurrency is seen by some investors as a hedge against inflation.
Coinbase Posts $1.9B in Q2 Transaction Revenue, Beating Estimates
Coinbase posted $1.9 billion in transaction revenue in the second quarter of 2021, surpassing analyst estimates for $1.57 billion in its second-ever earnings report as a public company. The crypto exchange also noted ether was traded more than bitcoin in Q2 for the first time. CoinDesk's Nate DiCamillo digs into the report and reveals about the outlook for Coinbase and the wider industry. Plus, his insights into the latest Consumer Price Index (CPI) numbers.
US July Consumer Price Index Rose Slightly Faster Than Expected
A year-over-year gain of 5.4% may reflect an economy that’s still suffering from supply shortages while keeping up with increasing demand.
What’s Next for Bitcoin as It Heads for Lowest Weekly Close Since June
Bitcoin is headed for its lowest weekly close since June 14 and remains in a lull into the weekend.
