Crypto & Stock Market Tumble After New Inflation Fears – February 24

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$23,164

Bitcoin price has rapidly fallen 3% this morning, in sync with the stock market following new inflation data.

Top-20 altcoins have also taken a hit, as Ether falls 4%, BNB drops 3% and Polkadot tumbles 8% overnight.

Top Stories for February 24, 2022 🔥

👉 Crypto & Stock Market Tumble After New Inflation Fears

Prices of both crypto and traditional assets have seen a quick drop after US data showed that inflation was persisting – prompting fears that the Federal Reserve may continue raising rates.

The price index for personal consumer expenditures rose 0.6% last month, higher than the estimated rise of 0.4% in the core index. The S&P 500 and Nasdaq futures have taken a small dive, while crypto-related stocks, including Coinbase and Silvergate, were both trading lower pre-market.

However, Block reported better-than-expected revenue and profit for the fourth quarter despite being impacted by bitcoin, resulting in a 5% increase before the open.

👉 CME Bitcoin Futures Trade At Widest Premium To Binance Since Nov 2021

Bitcoin futures on the Chicago Mercantile Exchange (CME) are trading at a higher premium than those on exchanges like Binance, as CME futures trade at an annualized premium of around 8.7% to the market price.

Analysts say the premium is a sign of leverage being skewed to the bullish side, with the premium previously reaching this level at Bitcoin’s record highs in November 2021.

👉 Judge Rules Emojis Count As Financial Advice, Have Legal Consequences

A US district court judge has ruled that emojis such as a rocket ship, stock chart and money bags mean “a financial return on investment,” following a filing from Dapper Labs’ NBA Top Shot Moments.

The ruling has also prompted comments from the crypto community, with one lawyer warning that a ruling against Dapper Labs could see every major video game developer, ticketing platform and travel rewards programme turned into an SEC-regulated firm.