Beincrypto
1 week ago
Bitcoin Price Moves on First CPI Increase Since February 📈
The US CPI data released showed an inflation rise to 2.4% in May, marking the first increase since February. Bitcoin's price reacted, surging towards $110,000. Analysts anticipated inflation, tying it to Trump’s tariffs. The CPI data influences the upcoming Fed interest rate decision, crucial for Bitcoin’s market outlook.
Traders are monitoring US jobs data and PPI due for release this week. Despite the rise in inflation, the market remains event-driven, with a focus on Fed policies. Recent indicators point to a near-zero probability of an interest rate cut, impacting Bitcoin's trajectory.
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