As a seasoned crypto investor with a knack for deciphering market movements and a not-so-secret love for economic data, I must say that July’s inflation figures were as predictable as a sunrise, albeit slightly less spectacular. The slight easing of the US inflation rate to 2.9% didn’t exactly set the Bitcoin market ablaze, much like a campfire struggling against a gusty wind.
In July, the annual inflation rate in the U.S. decreased slightly, settling at 2.9%, slightly lower than the forecasted 3%. On a monthly basis, inflation remained stable at 0.2%, as anticipated.
As a researcher delving into economic indicators, I’ve observed that the core inflation rate, which excludes the fluctuating costs of goods like food and energy, has consistently matched projections, standing firm at a yearly increase of 3.2% and a slight monthly rise of 0.2%.
Bitcoin‘s price didn’t fluctuate significantly in response to the latest news, staying approximately at $61,000. This indicates that the market was already prepared for these inflation figures, meaning Bitcoin’s worth remained constant as a result.
It appears that investors had anticipated these inflation numbers, which may explain why the Bitcoin market remained steady in response to the recently released economic data.
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2024-08-14 16:10