Bitcoin (BTC), the leading cryptocurrency, surpassed $120,000 for the first time in its history yesterday.
While the price recently broke a record by exceeding $123,000, it fell to $117,000 due to increased profit-taking.
While it was stated that this correction was normal and the rise would continue, critical inflation data that the FED attaches importance to in its interest rate decision was announced today.
Here is the data disclosed: Consumer Price Index Annual: Announced 2.7% – Expected 2.6% – Previous 2.4% Consumer Price Index Monthly: Announced 0.3% – Expected 0.3% – Previous 0.1% Core Consumer Price Index Annual: Announced 2.9% – Expected 3.0% – Previous 2.8% Core Consumer Price Index Monthly: Announced 0.2%–Expected 0.3%–Previous 0.1% The consumer price index is an important variable used to measure consumer purchasing trends and U.S. inflation changes.
Bitcoin's First Reaction After CPI Data! *This is not investment advice.
Continue Reading: BREAKING! US Inflation Data Released! Here's Bitcoin (BTC)'s First Reaction!.
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