Cryptos Rally in Wake of Inflation Data: Here’s Why
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Bitcoin and ether gained 10% and 45%, respectively, following Wednesday’s CPI numbers “After the catastrophic events that have unfolded in the crypto market over the past few weeks, stringent regulation could arrive soon,” one analyst said In the days following the release of higher-than-expected inflation data, cryptocurrencies have bounced back — while equities continue to trade sideways. Bitcoin and ether rallied about 10% and 45%, respectively, since the latest Consumer Price Index (CPI) report released Wednesday. The S&P 500 is up 0.7% over the past 5 trading days, and the tech-heavy Nasdaq lost 0.8%. Annual inflation rose again in June,
All eyes will be on the PCE inflation report this week, following last week’s CPI, and the Federal Reserve minutes on Wednesday. January’s CPI came in slightly below expectations, with headline inflation at 2.38% year-on-year and core CPI at 2.5%, the lowest since early 2021. This boosted the stock and…
Crypto markets have consolidated over the weekend with minor gains for the major assets, but no signs of renewed bullish momentum just yet. Despite the US government shutdown, the week ahead has a key inflation report delayed from September that is likely the last major piece of economic data the Federal…
Bitcoin (BTC) reacted sharply to today’s hotter-than-expected US Consumer Price Index (CPI) report, dropping from around $96,600 to as low as $94,088. Notably, BTC was already trending downward due to escalating geopolitical tensions following Donald Trump’s proposed tariffs on all aluminum and steel imports. Bitcoin Slumps Amid Surprising Inflation Data…