Bitcoin Hits $17,700 as November CPI Data Shows Cool Down in Inflation
Sponsored
Sponsored
Bitcoin prices increased by more than 5% on Dec. 13, 2022, after the Bureau of Labor Statistics reported that the Consumer Price Index (CPI) was up by 0.1%. November’s CPI reading was 7.1%, implying that inflation will remain moderate despite soaring interest rates from the Federal Reserve System. The CPI announcement sparked excitement in the crypto market, but the excitement faded later in the day as investors realized that inflation is still three times above the Fed’s 2% target. Crypto traders have been closely monitoring the monthly inflation report for clues on whether the Fed’s tightening of monetary policy this
As the highly anticipated US Consumer Price Index (CPI) data for June is set to be released today at 8:30 am EST, the Bitcoin (BTC) market finds itself at a crucial crossroads. With inflation concerns lingering and the Federal Reserve’s next moves under scrutiny, market participants eagerly await the impact…
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…
As Bitcoin became a more mainstream asset, its correlation with the stock market rose which meant it has been impacted by world events to a higher degree than it did before. This is evident with the asset’s reaction to the rising inflation and the Fed’s continuous hiking of interest rates.…