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BREAKING! US Inflation Data Unveiled! Bitcoin’s Response Revealed…
BREAKING! US Inflation Data Unveiled! Bitcoin (BTC) and Dollar’s Reactions Exposed!
Significant inflation figures from the United States have been disclosed.
Author:
Elif Azra Güven
12.06.2024 – 12:32
Update:
1 second ago
0
The primary cryptocurrency, Bitcoin, maintained its decline following the release of the US Non-Farm Employment data last Friday, dropping to the $66,000 mark.
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BREAKING! US Inflation Data Unveiled! Bitcoin at $64,000!
BTC, which surged back above $67,000 ahead of the crucial FED interest rate decision set for today, reacted to the pivotal inflation data preceding the FED’s announcement.
The revealed data is as follows:
Consumer Price Index Monthly: Unveiled 0.0% – Expected 0.1% – Previous 0.3%
Consumer Price Index Annual: Unveiled 3.3% – Expected 3.4% – Previous 3.4%
Core Consumer Price Index Monthly: Unveiled 0.2% – Expected 0.3% – Previous 0.3%
Core Consumer Price Index Annual: Unveiled 3.4% – Expected 3.5% – Previous 3.6%
The consumer price index serves as a crucial metric for monitoring shifts in consumer spending patterns and US inflation trends.
A value surpassing expectations indicates a positive/bull market for the USD, while a value falling below expectations signals a negative/bear market for the USD.
Initial Response of Bitcoin and Dollar Post CPI Data!
Following the data release, the initial responses of Bitcoin (BTC) and Dollar (DXY) unfolded as follows:
*This does not constitute investment advice.
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