Reserve Dollar

Satoshi

Reserve

Number 1

Coin

<p>The cryptocurrency market saw a quick spike today after the newest US inflation numbers were lower than predicted. This led people to believe the Federal Reserve may slow its rapid interest rate hikes sooner than expected.</p>
<h2 class="wp-block-heading" id="inflation-drops-markets-react">Inflation Drops, Markets React</h2>
<p>The Consumer Price Index (CPI) report released showed that the core inflation rate, which leaves out fluctuating food and energy costs, rose 3.4%, down from 3.6% in April and less than the forecasted 3.5% increase. The overall CPI number was also lower than expected.</p>
<p>The new inflation data was welcomed by the US markets, which had been dealing with very high prices and the actions taken by the Federal Reserve to control them. As a crypto expert named <a href="https://x.com/CryptoMichNL/status/1800869763993972865" target="_blank" rel="noopener noreferrer nofollow">Michaël van de Poppe</a> said, the lower-than-expected numbers caused the US dollar and Treasury yields to drop a lot. This shows that the markets now think the Fed might lower interest rates.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">CPI data comes out.<br><br>Core CPI M/M &amp; Y/Y – Lower than expected<br>CPI M/M &amp; Y/Y – Lower than expected<br><br>The Dollar and Treasury Yields are dropping significantly as the markets are expecting rate cuts to be happening.<br><br>This could be the massive sign for <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Altcoins</a> and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a>.</p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1800869763993972865?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="bitcoin-and-ethereum-led-the-increase">Bitcoin and Ethereum Led the Increase</h2>
<p>After the positive inflation news, the crypto markets saw a quick price spike. The two biggest digital coins, Bitcoin (BTC) and Ethereum (ETH), led the way. According to <a href="https://x.com/lookonchain/status/1800874015504085024" target="_blank" rel="noopener noreferrer nofollow">information from Lookonchain</a>, Bitcoin’s price went up by 2.4% right after the inflation report came out. It jumped from around $67,990 to $69,400.</p>
<p>Ethereum also saw a quick increase, going from $3,545 to $3,636 in the minutes right after the announcement. This upward movement spread to other cryptocurrencies as well, with many of them also going up as market sentiment became more positive.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><em><strong>Read Also: <a href="https://captainaltcoin.com/will-brett-flip-the-number-1-meme-coin-on-solana/" target="_blank" rel="noopener noreferrer nofollow">Will BRETT Flip the Number 1 Meme Coin on Solana?</a></strong></em></p>
<h2 class="wp-block-heading" id="possibility-for-more-increase">Possibility for More Increase</h2>
<p>The lower inflation numbers have made people hopeful that the Federal Reserve may start being more gentle with its policies, which could help the crypto markets even more. However, there are still some other important economic reports coming out today, like the Federal Budget Balance and announcements from the Federal Open Market Committee (FOMC).</p>
<p>These upcoming events could also affect market sentiment and direction. However, the positive reaction to the inflation report has brought new hope to crypto investors.&nbsp;</p>
<p><em><strong>Join <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="aethir" href="https://captainaltcoin.com/go/aethir/" data-shortcode="true">Aethir’s exclusive airdrop</a> and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!</strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-the-crypto-market-up-today-13/" rel="noopener noreferrer nofollow">Why is the Crypto Market Up Today?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why is the Crypto Market Up Today?

Table of Contents

CaptainAltcoin

Other articles published on Jun 12, 2024

4 Reasons Why Retik Finance (RETIK) Is a Must-Have in Your Bull Run Portfolio, According to Experts

ZKSync to Distribute 3.675 billion $ZK tokens to Community

MoonBag, the Top Meme Coin Presale in 2024 Triumphs with $2M in Presale While Solana and VeChain ...

Coinbase and Robinhood Move 9.6 Trillion Shiba Inu Amid Market Crash

Tokenized Future Yields Traded by Pendle

The Role of Automated Smart Contract Audits with Cyberscan

Join our free newsletter for daily crypto updates!