Leading cryptocurrency Bitcoin While it followed a fluctuating course yesterday, it experienced declines and rises along with the events.
Rising ahead of PPI data BTC, fell during the speech of Fed Chairman Jerome Powell. It then rose again with news that the US state of Wisconsin had invested in a Bitcoin ETF.
BTC While its volatile movements continue, 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!
After the announced data Bitcoin and the first reaction of the Dollar (DXY) was as follows.
*This is not investment advice.
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