June CPI Drops to 2.7% – But Bitcoin’s Unexpected Surge Has Investors Talking!
Core inflation also edged higher year-over-year, reinforcing concerns that inflation remains sticky. In response, markets turned cautious, with the U.S. Dollar Index climbing 2.1% to reach 98.5 in July.
How did Bitcoin react to June’s CPI data?
Bitcoin [BTC] saw a notable uptick following the release of U.S. inflation data, surging from $115.73 to $118.99, marking a 1.91% increase over the past 24 hours, as per CoinMarketCap.
This price movement reflects growing optimism among investors, likely fueled by cooling inflation and a softer-than-expected core CPI.
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