Cryptocurrency Live News & Updates : Bitcoin Retreats to $119K Amid Inflation Concerns
Bitcoin's rise above $122,000 faced significant selling pressure, dropping to $118,500. Analysts indicate that upcoming U.S. inflation data could lead to increased volatility in the market. Bitcoin has experienced a pullback to $119,000 after reaching a high of $122,200, with analysts from Bitfinex suggesting that upcoming U.S. CPI and PPI inflation reports could significantly influence market momentum. Meanwhile, Ethereum has dipped below $4,200, and BNB has also fallen below 800 USDT, reflecting a broader trend of declining prices among major cryptocurrencies. In contrast, the memecoin BONK has secured a $25 million investment from Safety Shot, which acquired a 10% revenue stake in BONK.fun, a leading platform in Solana's token launch market. This acquisition is expected to provide Safety Shot with a steady income stream linked to BONK's performance. Additionally, Solana's SOL and Sui have seen declines of 3%-4%, indicating a challenging environment for altcoins. As Bitcoin approaches critical resistance levels, traders are advised to remain vigilant for potential volatility and price corrections, particularly as the market reacts to macroeconomic indicators. Show more
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
14 minutes ago
- News18
Stock Market Updates: Sensex, Nifty Flat In Pre-Open; SMIDs Gain
Last Updated: Indian equities were range-bound in the pre-opening session amid mixed global cues Sensex Today: Indian equities were range-bound in the pre-opening session amid mixed global cues, with investors awaiting India's July consumer price index (CPI) data. The BSE Sensex was at 80,638.82, up 35 points or 0.04%, while the NSE Nifty50 slipped 22 points or 0.09% to 24,563.35. In the broader market, the Nifty MidCap100 gained 0.11% and the Nifty SmallCap index advanced 0.25%. Global Cues Asian markets opened higher on Tuesday, with investors treading cautiously ahead of a crucial US inflation report that could influence the Federal Reserve's interest rate outlook. Japan's Nikkei index surged to a record high on Tuesday, driven by strong gains in technology stocks, catching up with the milestones reached earlier this year by other major global markets. Wall Street's key indexes closed lower on Monday as investors awaited this week's inflation data to gauge the interest rate outlook while also monitoring developments in US-China trade relations. view comments First Published: News business » markets Stock Market Updates: Sensex, Nifty Flat In Pre-Open; SMIDs Gain Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
35 minutes ago
- Mint
Bond Traders' High Hopes for September Rate Cut Hinge on CPI
(Bloomberg) -- Bond investors betting on a Federal Reserve interest rate cut next month face a potential roadblock: inflation. July's consumer price index, due on Tuesday, will give traders clues on how President Donald Trump's tariffs are affecting costs. Economists surveyed by Bloomberg expect the annual core inflation rate to rise to 3%, the highest since February. 'The market is looking for further confirmation that changes to trade policy are passing through into higher goods inflation,' said Gennadiy Goldberg, head of US rates strategy at TD Securities, 'All else equal, a higher inflation print could leave the Fed wanting to see more data before cutting rates.' That would disappoint investors, who are betting on two rate cuts by the end of the year, starting as soon as September. Signs of a weakening US job market bolstered their belief that it was time for the first cut since December. Treasury yields have fallen to levels seen in late April and a gauge of their total returns delivered broad gains of 4% this year, on course for its best annual run since 2020. The 10-year benchmark yield was little changed at 4.28% in Asia trading Tuesday. Since the soft July payrolls report, bond traders' activity in the options market has largely targeted a deeper and longer path of rate cuts over the coming months. Investors have been actively betting that a quarter-point rate cut will remain likely for the Fed's Sept. 17 meeting. Meanwhile, some are positioning for inflation data that could give the Fed a green light for a half-point cut, shown by Monday activity in options linked to the Secured Overnight Financing Rate, which closely tracks the expected path of US monetary policy. If the CPI number is in-line with market expectations, the 'carry' on long positions on Treasury Inflation-Protected Securities will likely turn negative in September, JPMorgan Chase & Co. strategists said Monday, adding they remain neutral on breakeven rates ahead of the data. However, the risk of fast-rising prices is top of mind for Fed Chair Jerome Powell as well as some on Wall Street. Recent notes from Bank of America Corp., Apollo Global Management Inc. and Bank of New York Mellon Corp. have flagged stagflation as a significant concern. The combination of persistently high inflation and sluggish economic growth is also a risk to the dollar, which has weakened nearly 8% against a basket of peers this year. Strategists at TD Securities on Monday said the slump will deepen under a stagflation scenario. Sticky inflation would temper the Fed's ability to ease rates towards the 3% area being priced by swaps over the next 12 months. It could also put upward pressure on Treasury yields, which rose last week after a trio of soft auctions for the securities reflected waning demand for US government debt ahead of the CPI report. If inflation continued rising in July, that 'would reinforce what Powell has said about their dual-mandate — of stable employment and inflation — coming into conflict,' said George Catrambone, head of fixed income at DWS Americas. Policymakers will also have to consider the August CPI reading before the September decision, as well as a report on producer prices due Thursday. After the Fed held rates last month, Powell reiterated that officials needed more time to gauge the impact of tariffs before cutting rates, signaling patience in the face of Trump's relentless pressure on him to lower borrowing costs. However, Governors Christopher Waller and Michelle Bowman — both appointed by Trump — dissented, favoring an immediate rate reduction because of labor market weakness. If the president's economic adviser Stephen Miran is approved by the Senate to become a Fed Governor, that'll be one more dovish voice in the room, according to JPMorgan. What Bloomberg strategists say... 'The market is still pricing closer to two rate cuts this year than three, though September is discounted as something close to a done deal. To meaningfully sway that, it would probably take an upside surprise not only on tomorrow's inflation figure, but also on the August payroll figures to be released on Sept. 5.' — Cameron Crise, Markets Live. Click here for the full analysis. Despite forecasts showing that price growth will remain above the Fed's 2% target, Vanguard Asset Management's Roger Hallam expects rate-setters to focus on signs of a shaky job market, barring a big upside inflation shock. 'When push comes to shove, the Fed would prioritize the labor market in anything other than extreme inflation scenarios,' said Hallam, the firm's global head of rates. The labor market has shown enough softness that 'the probability of easing in September has gone up a lot,' he said. --With assistance from Edward Bolingbroke. More stories like this are available on
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Stock Market LIVE Updates: GIFT Nifty signals flat start; Japan's Nikkei 225 hits record high
Stock Market LIVE Updates, August 12, 2025: A flat start is expected for Indian equities amid mixed global cues. GIFT Nifty futures were trading 32 points lower at 24,596. Investors will be closely watching earnings releases from various companies and awaiting India's consumer price index (CPI) data for July. Globally, Asian markets edged higher after US President Donald Trump on Monday delayed the reimposition of high US tariffs on Chinese goods for another 90 days, according to reports. These tariffs were set to resume Tuesday, but Trump signed an executive order hours beforehand, extending the deadline until mid-November. At last check, Japan's Nikkei was up 2 per cent and hit a record high, mainland China's CSI 300 was up 0.36 per cent, Australia's ASX 200 was up 0.13 per cent, and South Korea's KOSPI was up 0.81 per cent. However, overnight, Wall Street indices closed lower as investors awaited the July CPI data due later today. The Dow Jones closed down 0.45 per cent, the S&P 500 fell 0.25 per cent, and the Nasdaq slipped 0.3 per cent. On the Russia-Ukraine conflict, Trump said in a press conference that both Ukraine and Russia would have to cede land to each other to end the war and that his talks with Russian President Vladimir Putin would be aimed at taking the temperature on a possible deal.Q1 results today:63 Moons Technologies, Nykaa, Apollo Hospitals Enterprise, Bajaj Hindusthan Sugar, BPCL, Bharat Dynamics, Cochin Shipyard, HAL, Jindal Steel & Power, NMDC, and others will release their earnings today. Additionally, Hindalco, Lemon Tree, Bajaj Consumer Care, and other stocks will be in focus after releasing their financial results post market hours on today:Shares of Highway Infrastructure Ltd's initial public offer (IPO) will list. Regaal Resources Ltd. IPO will open for subscription. The basis of allotment for JSW Cement Ltd. IPO and All Time Plastics Ltd. IPO will be finalised. On the SME front, Mahendra Realtors & Infrastructure Ltd. IPO will open for subscription. ANB Metal Cast Ltd. IPO, Medistep Healthcare Ltd. IPO, and Star Imaging & Path Lab Ltd. IPO will close for subscription. Meanwhile, the basis of allotment for Connplex Cinemas Ltd. IPO and Sawaliya Foods Products Ltd. IPO will be finalised.
