After the US August inflation data is announced as 8.3%, Bitcoin volatile movements are expected to be observed.
in the past minutes as 8.3% announced inflation rate, on an annual basis 8.1% on a monthly basis if –as 0.1% was expected.
Over the past months, there has been a significant decline 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, many analysts and experts in Bitcoin were expecting a rise. However, it was not as expected and a rise in Bitcoin price has not been observed yet.
As the June inflation rate exceeded expectations, the US Federal Reserve increased interest rates by 75 basis points. Above this, although the inflation data for July came below expectations, the FED still increased by 75 basis points.
Dollar index known to move inversely with Bitcoin (DXY) to 109 levels It has been showing a downward performance for about 1 week after experiencing an uptrend.