BREAKING! Critical US Inflation Data Released! What Was Bitcoin’s (BTC) Initial Reaction?

Global financial markets are focused on the US Consumer Price Index (CPI) data to be released today, while investors in the cryptocurrency market are also acting cautiously.

Bitcoin, which surged above $64,000 on Friday, is maintaining its strong performance around the $62,000 level despite recent escalation in US-Iran tensions.

However, the inflation data to be released is expected to be a determining factor in short-term price movements.

Analysts are concerned that inflation, which the Fed has long been trying to bring down to its 2 percent target, will continue to face upward pressure due to increases in energy prices.

At this point, while there is talk that the Fed might even raise interest rates in the face of increasing inflation risk (according to FEDWatcholl data, the probability of a rate hike in July is priced at 39%), the US June inflation data, which the Fed closely monitors when making its interest rate decisions, has been released.

Here are the US inflation figures that have been released:

Consumer Price Index Annual: Announced 3.5% – Expectation 3.8% – Previous 4.2%

Consumer Price Index Monthly: Announced -0.4% – Expectation -0.1% – Previous 0.5%

Core Consumer Price Index Annual: Announced 2.6% – Expected 2.8% – Previous 2.9%

Core Consumer Price Index Monthly: Announced 0.0% – Expectation 0.2% – Previous 0.2%

The consumer price index is a key variable used to measure consumer purchasing trends and changes in US inflation.

According to The Kobeissi letter, June CPI inflation fell to 3.5%, below expectations of 3.8%. Core CPI inflation fell to 2.6%, also below expectations of 2.8%. Monthly CPI inflation fell by -0.4%, marking the largest monthly decline since May 2020. Following this data, US stock market futures rose in response to the news.

Bitcoin’s Initial Reaction After the CPI Data!

*This is not investment advice.