Concerns about rising inflation to its highest level in 13 years are strengthening the USD, and traders are now anticipating the Fed Chair's speech this week. 

The CEO of Blackrock is likewise concerned about inflation, which he <a href="https://twitter.com/SquawkCNBC/status/1415277898957828100?s=20" target="_blank" rel="nofollow noopener">predicts </a>will be "more systematic," adding that asset owners are the largest benefactors of monetary policy.
<h2>Inflation Rises To Its Highest Level In 13 Years</h2>
The US dollar has been fluttering around 90 since early last month, and it is now heading for 93 after statistics indicated that <a href="https://www.cryptoknowmics.com/news/inverse-correlation-between-bitcoin-and-the-usd-is-not-true-analyst/">US inflation</a> for June was higher than predicted. US Treasury rates, like the US dollar, rose sharply in response to the inflation report.

Last month, consumer prices in the United States rose to their highest level in 13 years, as the economic recovery maintains its speed. Inflation rose from 5% to 5.4% in the 12 months ending in June.
<h2>Some Bitcoin Wallets Holdings Reach An All-time High</h2>
According to the <a href="https://twitter.com/intotheblock/status/1415243737823842305" target="_blank" rel="nofollow noopener">IntoTheBlock</a> team, the number of Bitcoin investors who own the most valuable cryptocurrency by market cap has reached an all-time high.

Furthermore, since May, the number of such wallets has increased by about 2%.

[embed]https://twitter.com/intotheblock/status/1415243737823842305[/embed]

According to <a href="https://www.cryptoknowmics.com/news/glassnode-data-suggests-bitcoin-holders-unwilling-to-sell-at-current-prices/">Glassnode</a> statistics, Bitcoin balances on crypto exchanges have suddenly shrunk as speculators remove huge sums of BTC and store it in cold storage vaults.

The cost of living increased by the most substantial amount, more than projected, in June since 2008. According to Blackrock CEO Larry Fink, inflation will cause a systematic and fundamental shift in how policymakers handle the economy.

[embed]https://twitter.com/SquawkCNBC/status/1415277898957828100?s=20[/embed]
<h2>Reaction Of The Market</h2>
The testimony of Federal Reserve Chairman <a href="https://www.cryptoknowmics.com/news/jerome-powell-shares-mixed-views-on-americas-future-economy/" target="_blank" rel="nofollow noopener">Jerome Powell</a> before Congress on Wednesday and Thursday will be closely scrutinized for any indications of impending tapering. 

The stock market shrugged off the newest data, with the S&amp;P 500 falling slightly after soaring to fresh all-time highs on Monday.

As Bitcoin Investors Remain Strong, Inflation Rises to its Highest in 13 Years

The USD is on rising with inflation to its highest level in 13 years. The main money and beneficiaries are more systematic for traders and property owners.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

As Bitcoin Investors Remain Strong, Inflation Rises to its Highest in 13 Years

Top Picks