The leading cryptocurrency Bitcoin has fallen to $ 53,500 in recent weeks due to sales pressure caused by Mt.Gox refunds and German government sales. However, with the upward momentum that started over the weekend, BTC rose above $ 59,000 this week.
While BTC moved above $ 58,000, critical inflation data expected from the USA and applications for unemployment benefits were announced.
Here is the announced data:
Consumer Price Index Monthly: Announced -0.1% Expected 0.1% – Previous 0.0%
Consumer Price Index Annual: Announced 3.0% – Expected 3.1% – Previous 3.3%
Core Consumer Price Index Monthly: Announced 0.1% – Expected 0.2% – Previous 0.2%
Core Consumer Price Index Annual: Announced 3.3% – Expected 3.4% – Previous 3.4%
Applications for Unemployment Benefits: Announced 222k – Expected 236k – Previous 238k
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!
*This is not investment advice.