Bitcoin cryptocurrencies and graph statistic background
The crypto sector was mostly flat for the day, as a short rally following better than hoped U.S. inflation data quickly lost steam. Bitcoin (BTC) is trading at $82,800, down 0.5% in the last 24 hours. The CoinDesk 20— an index of the top 20 cryptocurrencies excluding exchange coins, stablecoins and memecoins — is lower by 0.8% in the same period of time.
“Today’s lower-than-expected CPI should be bullish, signaling faster rate cuts, but crypto hasn’t reacted strongly,” Dr. Youwei Yang, Chief Economist at BIT Mining, told CoinDesk by email. “Weeks of market fear require more than a single good print to regain confidence.”
“The real issue is Trump’s aggressive tariffs, which risk making inflation stickier while also crashing markets,” Yang added, also mentioning the layoffs initiated by the Department of Government Efficiency (DOGE). “This puts the Fed in a bind: High inflation from tariffs makes rate cuts harder. Market crashes and job losses pressure the Fed to cut rates sooner. Cutting too early could reignite inflation, making future policy tougher.”
The market currently expects the Federal Reserve to restart rate cuts, perhaps as soon as May or June, with the possibility of as many of 100 basis points in cuts by October. U.S. stocks enjoyed a modest bounce on Wednesday after a roughly 10% plunge over the past few weeks. The Nasdaq closed with a 1.2% advance while the S&P 500 managed a 0.5% gain.
Cypherpunk Technologies is expanding its massive bet on Zcash by launching what it calls the…
MapleStory Universe is putting artificial intelligence in the hands of game creators with the launch…
Kalshi is making another major move beyond prediction markets, filing with the Commodity Futures Trading…
Coinbase is bringing high-leverage decentralized derivatives directly into its Base App through an integration with…
Hong Kong's first regulated Hong Kong dollar stablecoin is moving beyond testing and into real-world…
Cybersecurity researchers at Rapid7 have uncovered a sophisticated crypto fraud operation that used nearly 885,000…