US Inflation Numbers as Expected, Bitcoin Registers Slight Volatility
The US Bureau of Labor Statistics just published its monthly Consumer Price Index (CPI) report, and the results are in line with what was expected.
The CPI measures the average change over a certain time in the prices paid by consumers for a market basket of consumer goods. It’s largely used as a gauge for inflation in the country, and the BLS report usually impacts the market, including crypto.
Recent numbers revealed an increase of 0.2%, seasonally adjusted, and 2.9%, not seasonally adjusted, over the last 12 months. The numbers are in line with the expectations.
Bitcoin’s price didn’t move that much but the volatility did increase. The price initially soared toward $61.8K but subsequently retreated to where it’s currently trading at $61K.
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