Bitcoin Price Holds Steady as US July CPI Comes in as Expected
Share:
The US Bureau of Labor Statistics reported July CPI at 3.3% to 3.4% with core CPI rising 2.5%, broadly matching expectations. After June's misleading dip from lower energy costs that briefly boosted Bitcoin, the July print removes that surprise tailwind and implies a neutral to cautious short-term impact on crypto markets, DeFi and CEX sentiment and adoption.
Predictions Markets
See what traders are focused on
The US Bureau of Labor Statistics just published the Consumer Price Index data for July, which has essentially matched most expectations, with the regular CPI coming in at 3.3% to 3.4%.
The substantial increase in the CORE CPI of 2.5% was official, given the decline in June due to the decreasing energy costs at the time, which were considered misleading given the brief de-escalation in the Middle East war.
Read More
Arthur Hayes: Japan Yen Fix Could Fuel Bitcoin and Ethereum Rally
