Inflation is falling, and Bitcoin could benefit – This is the macroeconomic information of the day: inflation in the United States is lower than expected. The price of Bitcoin took the opportunity to regain volatility, and to return very close to the psychological round number at $31,000.
US inflation lower than expected, to the delight of the financial markets?
This afternoon, the figures concerning theinflation in the United States have fallen, and they are lower than estimated. Indeed, theCPI index (consumer price index) was displayed at 3% while the consensus was at 3.1%. This is good news, because theinflation was 4% in May.
Financial markets reacted with a high volatility, this is notably the case of the S&P 500 or Bitcoin. Investors seem to be reacting positively, and probably think the inflation problem is being solved. The next meeting of the FED will be on July 26, we will see if these results impact the monetary policy decisions.
>> 10% reduction on your trading fees? Sign up on Binance (commercial link) <<
The price of Bitcoin explodes… at the level of volatility!
While the Bitcoin price is relatively stable for several daysthe US inflation figures seem to have woke up market operators. If the price of Bitcoin did not explode upwards, it experienced a high volatility :
When the figures came out, the price came back very close to the psychological round number at $31,000. Then the course has fell 1.7%and took the opportunity to pull out the actors (purchases). Finally, the BTC has started to rise again, currently displaying a 1.3% increase from the lowest marked at $30,460.
BTC price has seen volatility, but indecision is still present. Indeed, the price has been moving in a range for more than two weeks, and the fall in US inflation does not allow the price to soar above the last peak marked at $31,500. For its part, Litecoin will soon experience its Halving, this is an important event that could impact its course.
For you, blockchain technology and cryptocurrencies will soon be at the heart of the daily life of each of us. You can get exposure to Bitcoin, Ethereum and other tokens on the leading exchange. Register quickly on the Binance platformand save 10% on your trading fees by following this link (trading link).