Bitcoin Price Holds Steady as US July CPI Comes in as Expected
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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.
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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.
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