Bitcoin Rallies After Soft US CPI Release – Blockchain News, Opinion, TV and Jobs

By Marcus Sotirio, market analyst at publicly listed digital asset broker GlobalBlock (TSXV:BLOK).

Bitcoin has risen to $17,800 at the time of writing following the release of soft US CPI this afternoon. The CPI was expected to be 7.3% over the year, but it was at 7.1% and much lower than the previous 7.7%, which leads to high bullish activity in Bitcoin and other digital assets. Because the expected 7.3% CPI indicates that inflation is convincingly declining, after 2 consecutive months of declines, which signals to the Federal Reserve that it is time to stop raising inflation. JP Morgan agrees, saying, “The most likely scenario, the team says, is for the S&P 500 to rise by 2% to 3%, with a CPI print range of 7.2% to 7.4%.”

It is understood from local reports that the arrest of Sam Bankman Freed (SBF) was made after formal notice was received from the United States that the United States has filed criminal charges against SBF and may request extradition,” according to Attorney General Ryan Pinder.

According to the AG’s office, “On December 12, 2022, the Office of the Attorney General of the Bahamas is announcing the arrest by the Royal Bahamas Police Force of Sam Bankman-Fried (SBF), the former CEO of FTX.

The news follows reports that former Alameda CEO Caroline Ellison has hired WilmerHale partner Stephanie Avakia, a lawyer who worked for the US Securities and Exchange Commission (SEC). BANMAN-FRIED recently reportedly retained Mark Cohen, the attorney who represented Ghislaine Maxwell in the sex trafficking case.

Prime Minister (Prime Minister) Philip Davis said: “The Bahamas will continue its own regulatory and criminal investigation into the failure of FTX, with ongoing cooperation with law enforcement and regulatory partners in the United States and elsewhere.”

Unfortunately, SBF was scheduled to testify under oath in front of Congress today, where he will testify on criminal charges, so prosecutors saved SBF from incriminating himself. However, SBF can incriminate itself in all the Twitter Spaces where it has shown itself sufficiently.

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