The leading cryptocurrency Bitcoin (BTC) has been on a bumpy path lately and is having a hard time breaking above $60,000 and holding on to it.
While the FED's interest rate decision is expected next week for the increase, today the critical inflation data that the FED attaches importance to in its interest rate decision was announced.
Here is the data disclosed:
Consumer Price Index Annual: Announced 2.5% – Expected 2.5% – Previous 2.9%
Consumer Price Index Monthly: Announced 0.2% – Expected 0.2% – Previous 0.2%
Core Consumer Price Index Annual: Announced 3.2% – Expected 3.2% – Previous 3.2%
Core Consumer Price Index Monthly: Announced 0.3%– Expected 0.2%– Previous 0.2%
The consumer price index is an important variable used to measure consumer purchasing trends and U.S. inflation changes.
A higher than expected value means positive/bullish for the USD, a lower than expected value means negative/bearish for the USD.
Bitcoin and Dollar's First Reaction After CPI Data!
*This is not investment advice.
