Bitcoin (BTC) and altcoins have entered a critical phase regarding the US-Iran conflict, following harsh statements from US President Donald Trump.
Despite the prospect of an agreement between the two countries appearing weak for now and rising tensions between them, the price of Bitcoin continues to remain above $80,000.
Recent negative developments have caused oil prices to rise again, with Brent crude approaching $110. This indirectly fuels inflation concerns, and analysts worry that the upward pressure on inflation, which the Fed has long been trying to bring down to its 2% target, will continue to increase with the rise in energy prices.
At this point, while there is talk that the Fed might even raise interest rates in the face of increasing inflation risk, the US April inflation data, which the Fed closely monitors when making its interest rate decisions, has been released.
Here are the US inflation figures that have been released:
Consumer Price Index Annual: Announced 3.8% – Expectation 3.7% – Previous 3.3%
Consumer Price Index Monthly: Announced 0.6% – Expectation 0.6% – Previous 0.9%
Core Consumer Price Index Annual: Announced 2.8% – Expected 2.7% – Previous 2.6%
Core Consumer Price Index Monthly: Announced 0.4% – Expectation 0.3% – Previous 0.2%
The consumer price index is a key variable used to measure consumer purchasing trends and changes in US inflation.
Bitcoin’s Initial Reaction After the CPI Data!
*This is not investment advice.
