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While Bitcoin, the leading cryptocurrency, followed a fluctuating course yesterday, it experienced declines and rises along with the events.
$BTC, which rose before the PPI data, started to decline during FED President Jerome Powell's speech. It then rose again with news that the US state of Wisconsin had invested in a Bitcoin ETF.
While $BTC continues its volatile movements, 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!
The first reaction of Bitcoin and Dollar (DXY) after the announced data was as follows.
*This is not investment advice.