While Bitcoin, the leading cryptocurrency, followed a fluctuating course yesterday, it experienced declines and rises along with the events.
BTC, which rose before the PPI data, started to decline during FED President Jerome Powell's speech. It then rose again with news that the US state of Wisconsin had invested in a Bitcoin ETF.
While BTC continues its volatile movements, critical inflation data expected from the USA has been announced.
Here is the announced data:
Consumer Price Index Monthly: Announced 0.3% – Expected 0.4% – Previous 0.4%
Consumer Price Index Annual: Announced 3.4% – Expected 3.4% – Previous 3.5%
Core Consumer Price Index Monthly: Announced 0.3% – Expected 0.3% – Previous 0.4%
Core Consumer Price Index Annual: Announced 3.6% – Expected 3.6% – Previous 3.8%
The consumer price index is an important variable used to measure changes in consumer purchasing trends and US inflation.
A higher than expected value means a positive/bull market for the USD, and a lower than expected value means a negative/bear market for the USD.
First Reaction of Bitcoin and Dollar After CPI Data!
The first reaction of Bitcoin and Dollar (DXY) after the announced data was as follows.
*This is not investment advice.