Somewhat expected, bitcoin’s price dived once again on Friday after the United States Bureau of Labor Statistics released the Consumer Price Index data for August, which matched expectations to a large degree.
The regular CPI showed a 3.4% year-over-year increase, which is exactly as anticipated. The monthly increase is 0.4% – again, as expected.
The core CPI, which excludes more volatile sectors like food and energy, showed a 2.4% YoY jump. The only minor difference from expectations was the core CPI monthly increase of 0.3% versus the anticipated 0.2% bump.
BTC’s reaction is rather interesting. As the chart above shows, it immediately dumped after the news went live by roughly a grand. However, it recovered just as quickly to over $77,000 as of press time.
This was the second inflation report of the week after yesterday’s release of PPI data. It showed a more notable jump of 5.4%.
The post Bitcoin Price Reacts to August US CPI Data: Here’s What Happened appeared first on CryptoPotato.
Ripple’s former CTO David Schwartz says XRP surging is more likely than Bitcoin collapsing to trigger a flip. Here’s the math and price levels to
Bitcoin trades near $77,300 as macro pressure builds ahead of Friday’s inflation data. Key support, resistance levels, and price scenarios inside. The post Bitcoin Price
Rising wholesale inflation and triple-digit crude prices have driven up September rate-hike expectations, weighing on BTC, ETH, and SOL as capital rotates toward cross-chain infrastructure
UBS’s strategic debt reduction enhances financial stability and sets a precedent for managing inherited liabilities in major bank acquisitions. The post UBS repurchases $7.93B in
Blockchain Bodega is here and you know the vibes. We’re at the intersection of hip-hop culture and web3, exploring this new digital frontier. Who better to guide you through these uncharted lanes than Ock Chain – The Bitcoin Boss and the Consensus Corner Boys?
Ock Chain doesn’t just cook up random details about cryptocurrency; he lives it. Ock’s been deep in the game since Bitcoin was just a baby.
And let’s not forget about the Consensus Corner Boys. They’re our skilled crew of blockchain enthusiasts. They’re here to educate, entertain, and enlighten.
Welcome to Blockchain Bodega!
Copyright © 2023 Blockchain Bodega. All rights reserved.
