Bitcoin’s Reaction After The US Announced CPI At 9.1%
The Crypto market is directly affected by the volatility of the CPI. That’s why the market fluctuates wildly every time the US gives a bad result.
Bitcoin Volatility With Latest CPI
On May 11, the expected CPI dropped from 8.5% to 8.1% but the actual figure was only 8.3%, which caused Bitcoin price to react immediately, dropping 6.5% from nearly $30K to 26.7 K$ the next morning.
On June 10, the CPI was expected to remain unchanged at 8.3% but the actual number disappointed many people, increasing by 0.3% to reach 8.6%. At the moment Bitcoin is still sideways in the $30K region, CPI higher than expected along with the knock-on effect of stETH losing peg was one of the catalysts that pushed Bitcoin price down sharply to $17k in the days that followed.
On July 13, the US announced the latest Consumer Price Index (CPI) update for June 2022. Accordingly, CPI in June reached 9.1%, up to 0.5% compared to 8.6% in May and exceeded the 8.8% threshold forecasted by financial analysts. This figure means that inflation in the United States continues to maintain the highest level in the past 4 decades. Other indexes such as core CPI (CPI of commodities minus food and fuel) also exceeded forecasts.
Immediately after that a red candle appeared when BTC price corrected from $20,1k to $18,91k. However, the price has gradually recovered at the moment, hovering around $20K
What to do when the CPI is released
When using CPI data to decide on trades, traders should consider the market’s expectations for inflation, and what could happen to that currency if these expectations are met or if they are met. missed.
Once the CPI data has been released and analyzed, traders also need to consider whether the market price is moving through or retracing key technical levels. From there, more informed trading decisions can be made.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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Bitcoin
Bitcoin’s Reaction After The US Announced CPI At 9.1%
The Crypto market is directly affected by the volatility of the CPI. That’s why the market fluctuates wildly every time the US gives a bad result.
Bitcoin Volatility With Latest CPI
On May 11, the expected CPI dropped from 8.5% to 8.1% but the actual figure was only 8.3%, which caused Bitcoin price to react immediately, dropping 6.5% from nearly $30K to 26.7 K$ the next morning.
On June 10, the CPI was expected to remain unchanged at 8.3% but the actual number disappointed many people, increasing by 0.3% to reach 8.6%. At the moment Bitcoin is still sideways in the $30K region, CPI higher than expected along with the knock-on effect of stETH losing peg was one of the catalysts that pushed Bitcoin price down sharply to $17k in the days that followed.
On July 13, the US announced the latest Consumer Price Index (CPI) update for June 2022. Accordingly, CPI in June reached 9.1%, up to 0.5% compared to 8.6% in May and exceeded the 8.8% threshold forecasted by financial analysts. This figure means that inflation in the United States continues to maintain the highest level in the past 4 decades. Other indexes such as core CPI (CPI of commodities minus food and fuel) also exceeded forecasts.
Immediately after that a red candle appeared when BTC price corrected from $20,1k to $18,91k. However, the price has gradually recovered at the moment, hovering around $20K
What to do when the CPI is released
When using CPI data to decide on trades, traders should consider the market’s expectations for inflation, and what could happen to that currency if these expectations are met or if they are met. missed.
Once the CPI data has been released and analyzed, traders also need to consider whether the market price is moving through or retracing key technical levels. From there, more informed trading decisions can be made.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
CoinCu News
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