Today, the eyes of the entire financial market were on the data from the USA. Inflation data in the US came in lower than expected and was announced as 3 percent.
The fact that the FED’s inflation rate, which is the most effective data in interest rate decisions, was low, allowed Bitcoin to rise up to $ 31,000.
Although BTC reacted well to this data at first, the statements of FED Official Barkin negatively affected the market.
Barkin stated that inflation is still high and made the following statements:
Inflation is still very high.
We acted as aggressively as we could against high inflation, but the decline was slower than we expected.
Demand seems to be decreasing, but we do not know the effect of this on inflation.
With the employment market so strong, it is still a question mark whether inflation will stop.
If inflation does not reach our 2 percent target quickly, we are determined to do more.
From the previous statements made by the FED, it is highly probable that 2 more interest rate hikes will be made this year.
After the inflation data, the probability of increasing the interest rates by 25 basis points in the next FOMC meeting is 92.4 percent and the probability of remaining constant is 7.6 percent.
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