The Inflation Is Too High 📈

Bitcoin and Ethereum took a 2% dive after the U.S. announced inflation was unchanged in March.

Author

Stacy Elliott
April 10, 2024

Welcome to the Daily Dispatch from Decrypt. This is Stacy in Berlin bringing you your daily news dose. Catch the latest from across our Hubs here!

📝 What you need to know

The new U.S. Consumer Price Index data dropped earlier today and so too did Bitcoin and Ethereum prices. In the hour after the report was released, BTC and ETH were down 2%. Bitcoin has since reclaimed $68,000 and ETH has nearly made its way back to $3,500. But this much is clear: The longer inflation remains high, the longer it’ll take the Fed to drop interest rates.

📰 Top Stories

Bitcoin and Ethereum Dive as U.S. Inflation Remains at 3.5%

Bitcoin and Ethereum dropped 2% each right after the U.S. announced that inflation in March was 3.5% and virtually unchanged from February.

Deutsche Bank Says Consumers are ‘More Positive on Crypto’

A new study by Deutsche Bank shows that consumers are warming to crypto, with 40% expecting Bitcoin to thrive.

Grayscale CEO: Bitcoin ETF Flows Reaching 'Equilibrium' as GBTC Outflows Continue

Michael Sonnenshein said that early outflows from GBTC were "anticipated," and linked to the bankruptcy settlements of crypto firms such as FTX.

💬 Quote of the Day

❝

“We want to build an operating system that lets people play absolutely everything.”

- Kirt McMaster, Playtron co-founder and CEO

🌐 From Our Hubs

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🤖 EMERGE: Elon Musk's Grok AI Chatbot Has Weakest Security, While Meta's Llama Stands Strong: Researchers

A new study exposes the vulnerabilities of popular AI chatbots to jailbreaking techniques, and offers recommendations for developers to secure their language models.

🖼️ SCENE: Crypto Influencer's DJ 'Marshmello' Stunt Went Horribly Wrong—Or Did It?

Marshmello has threatened legal action over the stunt that he alleges was used to pump a meme coin. What really happened?

📚 Dive Deeper

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Earn real Bitcoin for mining fake crypto in this mobile game. Here’s how to stack more satoshis by maximizing your play.

Solana Hunger Games: Explained in One Minute or Less - Decrypt

Rug Radio Creator and crypto influencer AshleyDCan explains the latest sensation taking over timelines on Crypto Twitter, Solana Hunger Games. The new "crypto AR" game from GG.zip is backed by Delphi and plans to launch in the spring. Here's what going on, explained in one minute or less.