The trailing 12-month percentage change for all items in the Consumer Price Index (CPI) fell to 2.6% in October, according to the latest US Bureau of Labor Statistics data out Wednesday.<\/p>\n
That may signal<\/a> the beginning of a bull market in dollar-denominated assets across the board as the economy roars into 2025.\u00a0The CPI measures the rate of gain or loss in dollar purchasing power over time. A higher CPI means prices for the typical basket of consumer goods are going up.<\/p>\n From March through September, the CPI fell steadily, prompting the US central bank to cut rates in September. After that, Bitcoin\u2019s price<\/a> began to rise through October, as well as Wall Street stocks.<\/p>\n US stock benchmarks like the S&P 500 Index set new all-time high records this month and last. After the US election held on Nov. 5, Bitcoin rocketed to a fresh peak. The largest digital asset marked a<\/a> new all time high above $93,000 on Wednesday.<\/p>\n Cooling from 3.5% to 2.4% in Sept, the rate of change of year-over-year inflation fell 25.71% since March. Over that same time period, the S&P 500 gained 8.59%, while Bitcoin\u2019s price fell -1.53%.\u00a0Now that inflation is moving back up again, will BTC\u2019s price continue to chart new all-time highs?<\/p>\n Santiment analysts said on<\/a> Wednesday that they expect a Bitcoin rally deep into the six figures in 2025, as high as $150,000 or $200,000.<\/p>\n Last December, Bitcoin ETF issuer VanEck predicted a Bitcoin price of $100,000 by the end of 2024. The cryptocurrency appears poised to reach that milestone in the timeframe specified by two of the company\u2019s analysts.<\/p>\n As the dollar printer\u2019s rising tide lifts up all worthy boats, daily movements in the prices of Bitcoin and stocks are beginning to correlate again.<\/p>\n The 30D BTC Pearson Correlation, after reaching<\/a> a 44-month high of 0.89 (on a scale of -1 to 1) on Sept. 26, began to slide to 0.49 on the eve of the US elections. By the time of the Labor Department\u2019s fresh CPI print on Wednesday, that figure bounced back to 0.80.<\/p>\n Part of the reason is that the same institutions are buying both with money hot off the press. Popular Bitcoin investment analyst Lark Davis remarked<\/a>, \u201cBlackRock just keeps buying.\u201d<\/p>\n Between Nov. 6 and Nov. 13, Wall Street sold over<\/a> $4.73 billion worth of Bitcoin ETFs. The institutional crowd cooled off on Thursday, with $400 billion in net outflows, but BlackRock\u2019s investors were happy to buy the dip with $126 million in net BTC sales Thursday.<\/p>\n \u201cBlackRock knows,\u201d replied one Ethereum analyst on Davis\u2019 thread.<\/p>\n The post USD Inflation Grows for First Time in 8 Months as BTC Marks New ATHs<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The trailing 12-month percentage change for all items in the Consumer Price Index (CPI) fell to 2.6% in October, according to the latest US Bureau of Labor Statistics data out Wednesday. That may signal the beginning of a bull market in dollar-denominated assets across the board as the economy roars into 2025.\u00a0The CPI measures the […]<\/p>\n","protected":false},"author":0,"featured_media":21138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21137"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21137"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21138"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Fed Rate Cuts Whip Deflation<\/h2>\n
Are Stocks and BTC Re-Coupling?<\/h2>\n