Wednesday opens not so sunny for Bitcoin as it’s trying to keep its balance on the $44K mark. The coin is hovering at its lowest in two weeks.
“It is of paramount importance to get inflation down,” future Fed vice chair Lael Brainard said in comments at a conference this week,“Accordingly, the committee will continue tightening monetary policy methodically through a series of interest rate increases and by starting to reduce the balance sheet at a rapid pace as soon as our May meeting.”
Inflation continued to trouble sentiment beyond the U.S., with eurozone annual producer price inflation jumping by the most on record in February — over 31%. Coming before the Russia–Ukraine war, it is likely that future readouts will be even higher.In a troubling environment, price watchers were prepared to cut spot some slack, calling for $44,000 to hold as a bullish foundation.
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