Share this article

Bitcoin Pops and Drops After Powell Introduces Average Inflation Targeting

Bitcoin whipsawed on Thursday after the Federal Reserve’s chairman signaled tolerance for high inflation, as expected.

Updated Sep 14, 2021, 9:48 a.m. Published Aug 27, 2020, 2:22 p.m.

Bitcoin whipsawed on Thursday after the Federal Reserve’s chairman signaled tolerance for high inflation, as expected.

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

The leading cryptocurrency jumped from $11,400 to $11,594 in 20 minutes to 09:30 a.m. ET only to give up gains in the next few minutes. At press time, bitcoin is trading near $11,380, down nearly 1% on the day, according to CoinDesk's Bitcoin Price Index.
The dollar index, which tracks the value of the greenback against majors, also faded the drop to 92.50 and now trades near 93.30.
The negative correlation between the dollar and bitcoin has strengthened over the past few weeks.
Federal Reserve Chairman Jerome Powell, while speaking at central bank's annual Jackson Hole event, said that the central bank will now be willing to allow inflation to run higher than the 2% target before raising interest rates.

Di più per voi

Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch

18 mar 2025

When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.

Cosa sapere:

Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.