Bitcoin Consolidates Ahead of U.S. Inflation Data
Bitcoin (BTC) has been trading within a tight range of $100K–$105K following the latest Federal Open Market Committee (FOMC) announcement. The Fed maintained unchanged interest rates, citing "elevated inflation" concerns.
At press time, BTC hovered around $104K, with market sentiment hinging on the upcoming U.S. PCE (Personal Consumption Expenditure) report. This inflation metric will shape expectations for future rate cuts and influence crypto market volatility.
Key price levels to monitor:
- Support: $97.5K
- Resistance: $108K–$110K
👉 Why Bitcoin’s price action matters for long-term investors
Major Crypto Developments
1. Tether Expands USDT to Bitcoin & Lightning Network
Tether announced USDT minting on Bitcoin’s base layer and Lightning Network, leveraging the Taproot Assets protocol. This upgrade enables faster, cheaper transactions for:
- Remittances
- Payments
- DeFi applications
Paolo Ardoino, Tether CEO:
"This reinforces Bitcoin’s decentralization while solving real-world financial needs."
2. Kraken Relaunches U.S. Staking Services
After a 2-year hiatus, Kraken reintroduced on-chain staking for 39 U.S. states, supporting:
- Ethereum (ETH)
- Solana (SOL)
- Cardano (ADA)
- Polkadot (DOT)
Mark Greenberg, Kraken’s Head of Consumer:
"This is a milestone for U.S. crypto adoption."
Regulatory Wins: Bitwise’s BTC/ETH ETF Approved
The SEC greenlit Bitwise’s combined BTC/ETH ETF, clearing its 19b-4 filing. Pending S-1 approval, trading could commence soon.
James Seyffart, Bloomberg ETF Analyst:
"Similar products from Hashdex and Franklin Templeton may launch shortly."
FAQ Section
1. How does inflation data affect Bitcoin?
Inflation reports impact Fed policy, influencing BTC’s appeal as a hedge against currency devaluation.
2. What are Taproot Assets?
A Bitcoin protocol enabling tokenized assets (e.g., USDT) with enhanced privacy/scalability.
3. Can U.S. residents stake crypto on Kraken?
Yes, in 39 states for ETH, SOL, ADA, and others.
👉 Explore Kraken’s staking rewards here
Key Takeaways
- BTC faces volatility from PCE data.
- USDT on Bitcoin/Lightning boosts utility.
- Kraken’s staking signals regulatory progress.
- Bitwise’s ETF marks a SEC breakthrough.
Stay tuned for real-time crypto updates!