The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Market Cap

Bitcoin, cryptocurrencies return to red with soaring UK inflation

Bitcoin, cryptocurrencies return to red with soaring UK inflation
Share on FacebookShare on Twitter


Bitcoin dropped below US$20,000 for the third time in a week on Thursday morning in Asia as news of record inflation in the U.K. and warnings of a recession hit crypto markets.

See related article: Crypto on a roller coaster as market braces for Fed guidance on rates

Fast facts

  • Bitcoin was trading down 3.5% in the past 24 hours but slightly rebounded to US$20,045 at press time, according to CoinMarketCap.
  • Ethereum was down 6.52% to change hands at US$1,051 at press time, while all non-stablecoin tokens in the crypto top 10 were down.
  • Recent data out of the U.K. shows inflation is running at a 40-year high of 9.1%, and is expected to hit 11% in October in the U.K.
  • As central banks begin to raise interest rates to combat rising inflation, the probability of a global recession has risen to 50%, according to Citigroup Inc.
  • The crypto market cap is down more than 70% from its all-time high in November, as rising inflation rates and growing fears of recession have led to investors taking money out of risk assets.
  • Bitcoin’s down trend is not pulling down the entire cryptocurrency market as it had been in recent days, with Polygon’s MATIC surging 14% and Uniswap’s UNI rising by 9%. 

See related article: Is Bitcoin really a hedge against inflation?



Read More:Bitcoin, cryptocurrencies return to red with soaring UK inflation

Tags: BitcoincryptocurrenciesinflationRedReturnSoaring
Previous Post

Bitcoin Price Predictions: What’s Next for BTC as the BITI ETF Takes Off?

Next Post

Charts suggest bitcoin could rally over the next few months but likely won’t reach old

Related Posts

Ripple’s Lawsuit: Why SEC Ignores Jed McCaleb? By DailyCoin

XRP Climbs 10% In Rally By Investing.com

by The Cryptos News
July 30, 2022
0

XRP Climbs 10% In Rally Investing.com - was trading at $0.40471 by 10:04 (14:04 GMT) on the Investing.com Index...

Crypto Markets Add $100 Billion Following the Fed’s 75 BPS Rate Hike (Market Watch)

by The Cryptos News
July 30, 2022
0

Unlike the previous Fed interest hikes, bitcoin went on a roll this time, adding over $2,000 in hours to...

Cardano (ADA) Becomes 7th Largest Cryptocurrency By Market Cap, Displacing XRP

Cardano (ADA) Becomes 7th Largest Cryptocurrency By Market Cap, Displacing XRP

by The Cryptos News
July 29, 2022
0

Regardless of the Cardano Vasil hard fork delay, ADA, the native token of the Cardano blockchain has flipped XRP...

Bloom (BLT) Do the Risks Outweigh the Rewards Friday?

Bloom (BLT) Do the Risks Outweigh the Rewards Friday?

by The Cryptos News
July 29, 2022
0

Bloom achieves a high risk analysis based on InvestorsObserver research. The proprietary system gauges how much a token can...

Next Post
Charts suggest bitcoin could rally over the next few months but likely won’t reach old

Charts suggest bitcoin could rally over the next few months but likely won’t reach old

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

July 30, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz