Latest News in the World of Cryptocurrency: Bitcoin Reacts to US Inflation Data
Exciting news in the cryptocurrency world as the US releases critical inflation data, causing a stir in the market. Bitcoin, the top digital currency, experienced a dip following the announcement of the US Non-Farm Employment data last week, dropping to $66,000. However, it quickly rebounded, surpassing $67,000 in anticipation of the FED interest rate decision and the subsequent inflation data release.
The inflation data is crucial for understanding consumer purchasing trends and the state of US inflation. Here are the key figures:
– Consumer Price Index Monthly: Announced 0.0% – Expected 0.1% – Previous 0.3%
– Consumer Price Index Annual: Announced 3.3% – Expected 3.4% – Previous 3.4%
– Core Consumer Price Index Monthly: Announced 0.2% – Expected 0.3% – Previous 0.3%
– Core Consumer Price Index Annual: Announced 3.4% – Expected 3.5% – Previous 3.6%
A higher-than-expected value signals a positive market for the USD, while a lower figure indicates a bearish trend. The reaction of Bitcoin and the Dollar post the CPI data announcement was closely watched by investors.
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