BREAKING! US Inflation Data Announced! Here is the Reaction of Bitcoin (BTC) and the Dollar!

BREAKING! US Inflation Data Release Impacts Bitcoin (BTC) and the Dollar!

Bitcoin, the leading cryptocurrency, experienced a decline following the announcement of US Non-Farm Employment data last Friday, with its price dropping to the $66,000 level.

Prior to today’s critical FED interest rate decision and the anticipated US inflation data, BTC had briefly surged above $67,000.

Here are the official inflation figures:

Consumer Price Index Monthly: Announced 0.0% – Expected 0.1% – Previous 0.3%

Consumer Price Index Annual: Announced 3.3% – Expected 3.4% – Previous 3.4%

Core Consumer Price Index Monthly: Announced 0.2% – Expected 0.3% – Previous 0.3%

Core Consumer Price Index Annual: Announced 3.4% – Expected 3.5% – Previous 3.6%

The consumer price index is a vital metric used to gauge fluctuations in consumer purchasing patterns and US inflation.

A higher-than-anticipated value signals a positive/bull market for the USD, while a lower-than-expected value implies a negative/bear market for the USD.

Initial Reactions of Bitcoin and Dollar Following CPI Data Release!

The initial response of Bitcoin (BTC) and the Dollar (DXY) to the published data was as follows:

*This information should not be construed as investment advice.