{"id":60821,"date":"2023-09-14T06:53:51","date_gmt":"2023-09-14T10:53:51","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-wobbles-after-hot-inflation-data-higher-rates-will-weigh-on-cryptos\/"},"modified":"2023-09-14T06:53:53","modified_gmt":"2023-09-14T10:53:53","slug":"bitcoin-wobbles-after-hot-inflation-data-higher-rates-will-weigh-on-cryptos","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60821","title":{"rendered":"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

\n Bitcoin
\n and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping interest rates higher for longer, heaped more pressure on rate-sensitive digital assets.<\/p>\n

The price of Bitcoin was near flat over the past 24 hours but fell from $26,200 to $26,100 after the release of the U.S. consumer-price index (CPI) for August. The largest digital asset continues to hover near the $26,000 level that has provided support for much of the past month amid a historically quiet period for crypto trading with volumes and volatility at multi-year lows.<\/p>\n

\n

CPI rose 3.7% annually in August, ahead of economists\u2019 expectations of 3.6% growth.<\/p>\n

Like the
\n Dow Jones Industrial Average
\n and
\n S&P 500
\n in the stock market, cryptos were poised to move on the back of CPI data because of how influential the release is on expectations for the future of interest rates. While traders expect the Federal Reserve to hold borrowing costs steady this month, expectations for the central bank\u2019s move in November remain in flux. Hotter-than-expected inflation data in the interim will only raise bets that the Fed is going to remain hawkish, with rates staying higher for longer.<\/p>\n

Higher rates are essentially bad for cryptos, because when risk-free assets like cash or Treasuries yield more, investors have fewer incentives to pile into riskier bets like digital assets. If rates move to a fresh generational peak in November and stay elevated through more of 2024 than once thought, it is likely to add pressure to cryptos.<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014lost less than 1% to around $1,600. Smaller cryptos or altcoins were more mixed, with
\n Cardano
\n down less than 1% and
\n Polygon
\n less than 1% higher. Memecoins were weaker, with
\n Dogecoin
\n and
\n Shiba Inu
\n each shedding about 1%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping interest rates higher for longer, heaped more pressure on rate-sensitive digital assets. The price of Bitcoin was near flat over the past 24 hours but fell from $26,200 to $26,100 after the […]<\/p>\n","protected":false},"author":1,"featured_media":57570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-60821","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=60821\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Bitcoin and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=60821\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-14T10:53:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-14T10:53:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694010069_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=60821#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=60821\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos.\",\"datePublished\":\"2023-09-14T10:53:51+00:00\",\"dateModified\":\"2023-09-14T10:53:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=60821\"},\"wordCount\":319,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=60821#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=60821\",\"url\":\"https:\/\/ifintechworld.com\/?p=60821\",\"name\":\"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-14T10:53:51+00:00\",\"dateModified\":\"2023-09-14T10:53:53+00:00\",\"description\":\"Bitcoin and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=60821#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=60821\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=60821#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos. | iFintechWorld","description":"Bitcoin and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=60821","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos. | iFintechWorld","og_description":"Bitcoin and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping","og_url":"https:\/\/ifintechworld.com\/?p=60821","og_site_name":"iFintechWorld","article_published_time":"2023-09-14T10:53:51+00:00","article_modified_time":"2023-09-14T10:53:53+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694010069_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=60821#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=60821"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos.","datePublished":"2023-09-14T10:53:51+00:00","dateModified":"2023-09-14T10:53:53+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=60821"},"wordCount":319,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=60821#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=60821","url":"https:\/\/ifintechworld.com\/?p=60821","name":"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-14T10:53:51+00:00","dateModified":"2023-09-14T10:53:53+00:00","description":"Bitcoin and other cryptocurrencies wobbled on Wednesday after the release of key U.S. inflation data, which could point toward the Federal Reserve keeping","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=60821#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=60821"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=60821#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Wobbles After Hot Inflation Data. Higher Rates Will Weigh on Cryptos."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/60821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60821"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/60821\/revisions"}],"predecessor-version":[{"id":60822,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/60821\/revisions\/60822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/57570"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}