Inflation is high, the market is worried, Fed Powell is singing hawk tonight! Bitcoin falls below 57,000, hits lowest level in two months

This site (120bTC.coM): The U.S. Department of Labor announced last night (30) that the first-quarter employment cost index (ECI) was 1.2%, higher than expected. This shows that the upward pressure on wages continues to increase, and inflation may rise further, making the market further worried about the ongoing monetary policy meeting of the Federal Reserve (Fed). Fed Chairman Powell may make more hawkish remarks (expected to meet at 2 o'clock Beijing time on the 2nd The interest rate decision will be announced, but there is a high probability that the increase will be frozen).

Marc Giannoni, chief economist at Barclays Bank, said that the resurgence of inflation this year may prompt Powell to become more hawkish, and Diane Swonk, chief economist at KPMG, also agreed. One view is that Powell may use hawkish rhetoric to temper the market's easing expectations.

After the news was announced, all four major indexes fell. In particular, the Dow Jones Index fell 5%, recording its worst monthly performance since September 2022. The performance of U.S. stocks throughout April was gloomy.

Bitcoin fell below 57,000

Perhaps due to the influence of risk aversion, Bitcoin started a new wave of decline from noon today, reaching its lowest level around 16:00 earlier 56,550 US dollars, a new low since the end of February this year.

Ethereum is approaching $2,800

Ethereum also hit a low of $2,816 at the same time, down 8.16% in the past 24 hours.

CoinMarkeCap ​​data shows that the decline of other top ten tokens has also continued to expand, among which DOGE and TON have fallen by more than 10%.

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