The cryptography sector was mainly flat for the day, because a short gathering following better than we hoped that inflation data quickly lost steam.
Bitcoin (BTC) is traded at $ 82,800, down 0.5% in the last 24 hours. Coindesk 20 – An index of 20 cryptocurrencies superior to the exclusion of exchange parts, stablescoins and the same – is 0.8% lower in the same period of time.
The ether (ETH) (ETH) is the reduction of this wider gauge, it is the least efficient asset of the index and currently down 3.5% to around $ 1880. At 0.022, the ETH / BTC ratio is now at the same level as in April 2020, just before Defi Summer put projects such as Uniswap and Makerdao under the spotlight. The ETH / BTC ratio plunged 67% from its record level in November 2021.
Find out more: relief of inflation as the American CPI turns less than 2.8% in February
“The IPI lower than expected should be optimistic, signaling faster rate drops, but Crypto has not reacted strongly,” Dr Youwei Yang, chief economist at Bit Mining, told Coindesk by E-mail. “”
“The real problem is that Trump’s aggressive prices, which are likely to make inflation more sticky while crushing the markets,” added Yang, also mentioning the dismissals initiated by the Ministry of Government (DOGE). “This puts the Fed in a link: high inflation of prices makes the rate drops more difficult. Market accidents and job losses put pressure on the Fed to reduce rates earlier. Cutting too early could rekindle inflation, which makes future policy more difficult. »»
The market is currently expecting the federal reserve to restart rate reductions, perhaps from May or June, with the possibility of more than 100 basic reduction points in October.
American shares have experienced a modest rebound on Wednesday after a dive of around 10% in recent weeks. The NASDAQ closed with an advance of 1.2% while the S&P 500 achieved a gain of 0.5%.
