Crypto prices today: Bitcoin trading in green, Ethereum in red. details inside

Over the past 24 hours, Bitcoin is up 0.25% to $41,566, while Ethereum is down 0.19%. The second largest cryptocurrency is trading at around $3,006.

Solana lost 0.64% and Cardano 2.98%. Polkadot is also down 1.36% in the last 24 hours.

Dogecoin is down 1.51% to $0.1469.

The above prices are as of 6th February at 6.15 PM IST (Data Courtesy: coinmarketcap.com).

US inflation is probably going to rise again

Meanwhile, inflationary pressures in the US continued into the beginning of the year, data is expected to show, with the Federal Reserve raising interest rates next month on autopilot.

According to the average projection in a Bloomberg survey of economists, the consumer price index probably jumped 7.3% in January from a year earlier, the biggest annual advance since the start of 1982.

Excluding the volatile energy and food categories, the CPI is projected to grow at 5.9%.

Finance Minister Nirmala Sitharaman said the Indian government and central banks keep an eye on developments globally, including increasing inflationary pressures across the globe.

Sitharaman said in a post-Budget interaction with an industry body on Sunday that the government will not allow the economy to suffer due to lack of preparation.

Sitharaman said that after the global financial crisis, the results showed that the liquidity tap was not closed at the right time. “We are very cautious about what is happening with respect to global growth, with regard to the decisions of the Fed, and with respect to global inflationary pressures,” he said.

India doubled its spending commitment in its annual budget, relying on an already sunken debt market to borrow and spend big to boost growth.

The Reserve Bank of India is set to outline its policy on February 9 and is expected to take further steps such as raising the reverse repo rate to further reverse the pandemic-era steps.

with agency input