Inflation Reaccelerates To New High Of 8.6% In May – June 10

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $29,447

Bitcoin price had dropped 2% over the last 24 hours, responding confusingly to fresh (and worrying) CPI figures for the month of May.

Top-20 altcoins have also taken a hit, as Ethereum falls 4%, Cardano tumbles 8%, but BNB remains unchanged over the last day of trading.

Top Stories for June 10, 2022 πŸ”₯

πŸ‘‰ Inflation Reaccelerates To New High Of 8.6% In May

Inflation reached 8.6% year-over-year during the month of May, according to the consumer price index (CPI) – a new four-decade high.

The news has raised questions as to whether the Federal Reserve’s current plans to raise rates by 50 basis points per meeting are sufficient to curb ongoing inflation, or if larger rate hikes will be needed to regain control of prices.

Bitcoin did not respond strongly to the inflation report, with price falling on the news despite being widely considered an inflation hedge.

πŸ‘‰ Bloomberg Terminal Lists Data For 40 Additional Cryptocurrencies

Bloomberg has expanded its Terminal data coverage on cryptocurrencies, adding data for an additional 40 different coins and tokens. Users will now be able to view intra-day pricing data for crypto, indices and futures contracts.

Assets are vetted to be added based on institutional custody support, trading access and several other factors. Previously, Bloomberg Terminal only offered more limited data on 10 cryptocurrencies, the majority of which were added to the platform in 2018.

πŸ‘‰ Mastercard To Enable Users To Directly Purchase NFTs

Payments processing giant Mastercard has announced that it has partnered with several leading NFT marketplaces, to enable users to directly purchase NFTs using their bank card.

Currently, users need to purchase cryptocurrency with their bank cards first, before making the NFT purchase with the acquired cryptocurrency. Mastercard has removed that entire step from the process, making it easy for the average user to participate in the NFT market.