Bitcoin and Ethereum traded flat as the June CPI report revealed a three percent increase in inflation, causing currencies to rise slightly. The Fed Reserve has been increasing its policy interest rate in an effort to bring inflation back to its two percent target. The two-year treasury yield tumbled after the CPI report was lower than expected, signaling market expectations of a rate hike. Crypto investment products saw significant institutional inflows, with $136 million flowing in last week alone. Tokenized US treasuries have surpassed $600 million, indicating the growing trend of asset tokenization.
Bitcoin and Ethereum Trade Flat as June CPI Report Reflects Cooling Inflation
Is the lowest it’s been in 23 entire months I I guess that’s a good thing All right Bitcoin ethereum trade flat as the June CPI report clocks in at three percent leading currencies Rose slightly following the figures which indicate that inflation continues to cool everybody continue to trade flatter roughly 31 700 on Wednesday after the June inflation data reflecting a CPI increase of 0.2 percent and a yearly.
Ethereum Shows Minor Gain Amidst Inflation Data
Increase of three percent ethereum also faced a minor gain there as well one point three percent meanwhile core CPI which discounts food and energy uh due to their known volatility Rose just 0.2 percent which is the smallest one-month increase in that index since August of.
2021. I like how we’re uh you know we’re going back 23 months this is the lowest it’s been in 23 entire months I I guess that’s a good thing uh since March of 22 the FED Reserve has rapidly risen its policy interest rate in a mission to.
Two-Year Treasury Yield Drops Following CPI Data
Bring inflation back to its two percent Target in the US after peaking last June at 9.1 percent while we all know it’s spent several months in double digits I mean uh we saw how they were playing with the data oh food well it’s only going to be you know this much of the.
Inflation pie oh uh cars well cars are going up oh guess what we’re going to shrink the effect that cars have on core CPU and all these things it’s just a lot of massaging of data I think I know I think you know I think we all know.
Inflation was 10 uh Plus for several months you know maybe even half a year or longer there all right a two-year treasury yield tumbles after June CPI is less than expected a slid 14 basis points the 10-year yield fell 10 basis points yields and prices move in opposite directions one basis.
Points of course equals uh one 100th of a percent there uh ginsler has it with the 50 uh Tim where are you first born foreign Back to what are we talking about here are the two-year treasury yield and the 10-year yields markets are widely pricing in a rate hike from the central bank at its next meeting and policy makers have indicated that this may not be the last rate increase of the Year.
Depending on the data investors also be following remarks from fed speakers including the FED president Tom Barkin and the Minneapolis fed president Neil Kashkari for a fresh hints about the policy outlook on Thursdays they’re going to wait for the remarks you know assess the details it looks like two 25.
Basis points I think that’s what the prediction markets are saying we’ll see if that ends up playing out all right crypto investment products see massive institutional inflows as Bitcoin Ethan xrp products lead hmm xrp is on the list there uh last week saw 136 million dollars flow into investment products.
Mark in a robust period of growth over the past three weeks total of 470 million reported in digital assets during this period offsetting the outflows of the past nine weeks so it looks like we had nine weeks of outflows and now we’re we’re flipping green now money’s starting to come in products.
Betting against Bitcoin meanwhile saw did see outflows while eth investment products saw 2.9 Million of inflow so this is betting against Bitcoin there other notable altcoins so Solana xrp Matic Litecoin Ave also saw inflows uh Adam and cardano minor outflows there so not looking good for the cardano folks like myself okay.
All right a tokenized U.S treasuries surpassed 600 million dollars as crypto investors captured Trad Phi yield so it looks like uh effectively Lynn 614 million to the US government via different tokenized treasury products so we’re seeing the real life tokenization of assets uh you know with the big fed.
Moves and you know all the hundreds of millions in the billions that are moving they are starting to tokenize so it isn’t just a fad if they’re like Bitcoin isn’t that just for scammers no tokenization is a real uh movement that is happening across the globe here Foreign [Applause]