Bitcoin Price Rockets as US CPI for June Comes in Well Below Expectations
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US June CPI fell 0.4% month-over-month, a larger-than-expected decline that breaks a three-month streak of increases and signals cooling inflation. Crypto markets reacted positively with BTC jumping nearly $1,000 to about $63,500, underscoring inflation-driven market impact and potential bullish sentiment for crypto, DeFi and other risk assets.
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Although most experts anticipated slightly lower US Consumer Price Index numbers for June due to the ongoing ceasefire at the time in the Middle East, the actual data is more promising, showing an even larger decline.
The month-over-month drop is 0.4%, which breaks a three-month streak of consistent increases. BTC’s price reacted with an immediate surge of almost a grand that pushed it to $63,500 briefly.
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$ 63.81K
+1.99%
$ 0.00188
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In This News
Coins
$ 63.81K
+1.99%$ 0.00188
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