Core

Reserve

President Donald Trump

Elon Musk

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/market-observers-anticipate-key-inflation-data-impacting-federal-reserve-decisions/" data-wpel-link="internal">Market Observers Anticipate Key Inflation Data Impacting Federal Reserve Decisions</a> 
Today, the United States will release its October inflation data, including the Consumer Price Index (CPI) and Core CPI. According to QCP Capital’s analysis, these figures may influence the Federal Reserve’s decision on interest rate cuts in December. The market is anticipating a 70% probability of a final rate cut during this meeting. However, in addition to inflation data, the Personal Consumption Expenditures Index (PCE), set to be announced on November 27, and potential policy shifts from Donald Trump may also guide the Fed’s decision. 
<h2 style="text-align: justify" id="strong-record-demand-for-bitcoin-etfs-strong">Record Demand for Bitcoin ETFs</h2> 
Bitcoin (BTC) has entered a new phase as its price approaches the $90,000 mark. Increasingly, institutions, governments, and companies are recognizing Bitcoin as a “treasury asset.” The market has experienced significant activity due to record demand for spot Bitcoin ETFs. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-406331" src="https://coin-turk.com/wp-content/uploads/2024/11/QCP-Capital.jpg" alt="" width="604" height="656"> 
Following the U.S. elections, $1.8 billion flowed into spot Bitcoin ETFs, with an additional net inflow of $1.1 billion earlier this week. This surge, totaling $2.28 billion within three days, has drawn attention in the market. QCP Capital suggests that such high demand is likely to drive Bitcoin’s price upward. 
<h2 style="text-align: justify" id="strong-dogecoin-surges-with-new-u-s-department-announcement-strong">Dogecoin Surges with New U.S. Department Announcement</h2> 
In the wake of the U.S. elections, there has been a notable increase in <a href="https://en.coin-turk.com/pepe-coin-outperforms-other-meme-coins-despite-market-downturn/" data-wpel-link="internal">memecoin</a> activity. Notably, Dogecoin (<a href="https://en.coin-turk.com/dogecoin-continues-to-show-positive-price-movement-with-over-10-increase/" data-wpel-link="internal">DOGE</a>) experienced a rapid rise after former President Donald Trump announced the establishment of a new unit called the “Government Efficiency Department,” referred to as DOGE. 
This new department is set to be led by Elon Musk and former Republican candidate Vivek Ramaswamy, with the aim of streamlining government bureaucracy. Following these announcements, Dogecoin surged nearly 20%, reaching $0.37 in the morning. For a brief period, it climbed to $0.43, and since election day, it has increased by 153%, surpassing Bitcoin’s 30% gain and moving up to sixth place by market capitalization, overtaking XRP. 
The post <a href="https://en.coin-turk.com/market-observers-anticipate-key-inflation-data-impacting-federal-reserve-decisions/" data-wpel-link="internal">Market Observers Anticipate Key Inflation Data Impacting Federal Reserve Decisions</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Market Observers Anticipate Key Inflation Data Impacting Federal Reserve Decisions

Table of Contents

COINTURK NEWS

Other articles published on Nov 13, 2024

ZettaBlock Launches Kite AI, Unlocking Fair Access to AI Assets

Tether Unveils Wallet Development Kit and Announces USDT Chain Swap

Donald Trump Taps Elon Musk and Vivek Ramaswamy to Lead New Government Efficiency Agency

XRP Documentary Debuts in Arizona

BYDFi Launches SUNDOG USDT-M Contracts for Traders

XRP All Over the Place: Highest Level on Binance

Join our free newsletter for daily crypto updates!