US Inflation Aligns With Estimates At 6% YoY – March 14

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$25,977

Bitcoin price briefly broke above $26,000 this morning, a price level not seen since mid-June of last year.

Top-20 altcoins continue to recover also, as Ether gains another 6%, BNB rises 2% and Cardano gains 5% over the last 24 hours.

Top Stories for March 14, 2022 🔥

👉 US Inflation Aligns With Estimates At 6% YoY

In February, US inflation rose by 0.4% month-on-month and 6% year-on-year, which was in line with expectations.

The figure is the second obtained using the new Consumer Price Index (CPI), which uses a single year of data instead of two and is based on consumer expenditure data from 2021.

The US Federal Reserve will announce its latest interest rate decision on March 22, and some analysts predict a possible cut in rates due to financial stability risks.

👉 US Banking Crisis May Drive Crypto Firms Overseas

US-based crypto firms are seeking offshore bank accounts following the closure of three crypto-friendly banks in the country.

Swiss bank Sygnum and Lichtenstein’s Bank Frick have reported an increase in requests for accounts from the US and other jurisdictions. SEBA Bank, FV Bank, Jewel Bank, Tether, and Deltec were named as options for US dollar-based banking, while EQIBank in Dominica was identified as a possibility for some companies

👉 Bitcoin Market Cap Approaches $500B, Passes That Of Meta

Bitcoin’s market cap has reclaimed the $500 billion mark, surpassing that of tech giant Meta which weighs in at $469 billion, according to data from Companies Market Cap.

Bitcoin’s market cap now sits in the 11th spot among top assets by market cap. The king of cryptocurrency still has a way to go to surpass the market caps of gold and Apple, which hold first and second place with market caps of $12.59 trillion and $2.380 trillion, respectively.