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⏲ Duration: 0:35
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✓ Published: 30-Apr-2024
👁 View: 955K times
✓ Published: 30-Apr-2024
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Bitcoin and Ether prices declined as Asian markets opened on Monday, falling around 2 to 3% amid renewed worries about stagflation in the US economy. Slower-than-expected first quarter GDP growth and persistently high inflation data have increased fears of a stagflationary environment. Traders are weighing inflation, growth, and Fed policy risks against the potential for Treasury interventions to inject funds into markets. Most bets still favor no Fed rate cuts this year, but the odds of a single cut are creeping higher against a weakening economic picture.
Bitcoin and Ether prices declined as Asian markets opened on Monday, falling around 2 to 3% amid renewed worries about stagflation in the US economy. Slower-than-expected first quarter GDP growth and persistently high inflation data have increased fears of a stagflationary environment. Traders are weighing inflation, growth, and Fed policy risks against the potential for Treasury interventions to inject funds into markets. Most bets still favor no Fed rate cuts this year, but the odds of a single cut are creeping higher against a weakening economic picture.
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