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ഓഗസ്റ്റിൽ പണപ്പെരുപ്പം വർദ്ധിച്ചിട്ടും ബിറ്റ്കോയിൻ, Ethereum ഹോൾഡ് ഗ്രൗണ്ട് - ഡീക്രിപ്റ്റ് ചെയ്യുക

തീയതി:

Cryptocurrency prices traded sideways on Wednesday after a widely watched inflation gauge showed inflation grew hotter in the U.S. last month.

The Consumer Price Index (CPI) rose 3.7% in the 12 months through August, the Bureau of Labor Statistics (BLS) പറഞ്ഞു on Wednesday, coming in slightly above economists’ expectations of 3.6%.

The index rose 0.6% in August on a month-to-month basis after a 0.2% bump in both July and June. The relatively larger increase was attributed to rising gasoline prices, the BLS said, which accounted for over half of the index’s increase.

വിക്കിപീഡിയ traded hands at around $26,100 after the report’s release, which was flat over the past day, according to CoinGecko. Ethereum had fallen 0.5% during the same period to around $1,600, while altcoins like കാർഡാനോ ഒപ്പം പോക്ക ഡോറ്റ് saw slight losses too.

Wednesday’s report will be one of several factors, such as the strength of the U.S. labor market and recent Personal Consumption Index (PCI) figures, weighed by the Federal Reserve ahead of its next interest rate announcement on September 20.

The Fed has stiffened its monetary stance in response to inflation that reached 9.1% last June—it was the biggest yearly increase since 1981. Higher interest rates cool the economy by making it more expensive for businesses and consumers to borrow.

Aside from dampening economic growth, higher interest rates have weighed on cryptocurrencies and other so-called risk assets like stocks, as assets like U.S. Treasuries become relatively more attractive to investors.

Even though inflation has fallen considerably from its sweltering clip last June, its pace remains above the Fed’s target of 2% annually.

The U.S. central bank ratcheted its benchmark interest rate to between 5.25% and 5.5% in July, a 22 വർഷം ഉയർന്നത് that followed a skip in June. When the Fed elected to not raise interest rates in June, it was the first time the Fed had flinched എട്ടു മാസം കൊണ്ട്.

Traders penciled in a 91% chance on Wednesday that the Fed would keep rates steady after its meeting later this month, with a 5% chance of a cut in January of next year, according to the CME Group’s ഫെഡ് വാച്ച് ടൂൾ.

Cryptocurrency prices dipped in August after മിനിറ്റ് from the Fed’s latest meeting on interest rates were released. Hawkish undertones gave traders pause alongside an affirmation that the Fed “remains highly attentive to inflation risks.”

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