The price of Bitcoin (BTC) is experiencing unusual volatility following the release of the US Consumer Price Index (CPI). As a significant gauge for inflation in the United States, the CPI is at 2.9%, the lowest recorded since March 2021.
This reading is crucial for the Federal Reserve as it shows that its monetary policies yield the desired result. Slowing inflation, as indicated by the CPI reading and other core economic indices, can help shape the sentiment for BTC prices in the mid-to-long term.
Bitcoin, Altcoin, and the Macro-economy
Current Bureau of Labor Statistics data points to a very healthy US economy. With CPI coming in at 2.9%, market experts are primarily not focused on the fears of an impending recession. Notably, with this CPI figure, the expectation of an interest rate cut remains high.
Many central banks, including the Bank of England, have started cutting interest rates to rebalance the economy. The Federal Reserve is currently weighing this decision, a
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