Crypto Update | Bitcoin's Rally and its Relationship With Inflation

Apr 10, 2024

Helene Braun and Marc Chandler discuss the impact of the CPI report on Bitcoin and cryptocurrencies, the US jobs report's implications for interest rates, the relationship between Bitcoin and inflation driven by ETFs, and the potential for new highs post-halving. They analyze market reactions to inflation, Fed cuts, and Bitcoin's rally amidst evolving market dynamics.

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Introduction

00:00 • 2min

Analysis of Cryptocurrency Fluctuations in Response to Inflation Report

01:51 • 2min

Analysis on CPI Report, Federal Reserve's Rate Cuts, and Labor Market Indicators

03:30 • 5min

Bitcoin's Rally and Market Drivers Analysis

08:32 • 2min

Bitcoin Halving Impact, Price Rally, and Federal Reserve Comparison

10:32 • 4min

The latest price moves and insights with Helene Braun and Marc Chandler, Chief Market Strategist at Bannockburn Global Forex.

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On "Markets Daily," Chief Market Strategist at Bannockburn Global Forex, Marc Chandler, joins Markets Daily with insight on the recent consumer price index (CPI) report and its implications for the market, particularly for Bitcoin and other cryptocurrencies. The CPI report showed higher-than-expected inflation rates, leading to a rise in US interest rates and a decline in risk assets, including crypto. They also touch on the US jobs report and its impact on interest rates.

Takeaways |

The CPI report showed higher-than-expected inflation rates, leading to a decline in risk assets, including Bitcoin and other cryptocurrencies.
The US jobs report, which surpassed expectations, signals a robust economy but raises concerns about interest rates.
The relationship between Bitcoin and inflation is questioned, with the guest suggesting that Bitcoin's recent rally is driven more by the advent of ETFs and speculative demand.
The impact of the halving on crypto prices is anticipated to be slightly weaker this year due to the shock to supply caused by ETFs.
The potential for new record highs in Bitcoin depends on market participants' interpretation of the current consolidation pattern and their confidence in Fed cuts.

Chapters |

00:00 Introduction and Market Update

04:34 The US Jobs Report and its Impact on Interest Rates

09:35 The Impact of ETFs and the Halving on Crypto Prices

LINKS |

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This episode was hosted by Helene Braun. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.

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