Bitcoin (BTC) started to rise after the US November inflation data was announced as 7.1%.
in the past minutes as 7.1% announced inflation rate, on an annual basis 7.3% aspect was expected. As inflation came in below expectations, Bitcoin is about to 500 dollar experienced a rise.
Over the past months, there have been sharp decreases in Bitcoin and other markets due to the fact that the inflation rate in the USA was above expectations.
With the data announced last month coming below expectations, many analysts and experts in Bitcoin were expecting a rise. However, it did not work as expected.
In the months when the inflation data came above the expectations and did not come, the FED was still 75 basis points had increased. Continuing with its aggressive interest rate hikes in the past month, it is wondered what kind of decision the FED will take in the coming period. Expectations are that it will increase by 50 basis points in the next rate hike period.
The dollar index, which is known to move inversely with Bitcoin in this process (DXY) to 103.9 levels fell.