Core

United

Bitcoin

The general estimations for the CPI and Core CPI numbers were at 4.1% and 5.2%, both of which were slightly different in reality.
As a result, bitcoin reacted with an immediate price increase that drove it north by several hundred dollars in minutes.
<ul>
<li>The United States announced the inflation rates for the month of May on June 13, indicating a year-over-year increase in the Consumer Price Index of 4%, which was slightly lower than the 4.1% expected.</li>
<li>The core CPI, which excludes more volatile sectors like food and energy, has jumped by 5.3%, a bit higher than the estimations of 5.2%.</li>
<li>The primary cryptocurrency reacted with an immediate brief price increase that pumped it from $26,200 to a three-day high of just over $26,400. However, the asset lost almost all traction in the following minutes.</li>
<li>It&#8217;s worth noting that BTC used to be a lot more volatile during previous CPI announcements, with some taking it on massive<a href="https://cryptopotato.com/bitcoin-pumped-and-dumped-1-5k-following-us-cpi-numbers-market-watch/" data-wpel-link="internal"> four-digit rides</a>.</li>
<li>The declining CPI numbers could mean that the US Fed will finally pivot from its monetary policy of hiking the interest rates, which is regarded as a bullish sign for risk-on assets like BTC.</li>
</ul>
<figure id="attachment_255027" aria-describedby="caption-attachment-255027" style="width: 1834px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11.png" data-wpel-link="internal"><img class="size-full wp-image-255027" src="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11.png" alt="BTCUSD. Source: TradingView" width="1834" height="907" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11.png 1834w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11-300x148.png 300w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11-1024x506.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11-768x380.png 768w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11-1536x760.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-11-50x25.png 50w" sizes="(max-width: 1834px) 100vw, 1834px" /></a><figcaption id="caption-attachment-255027" class="wp-caption-text">BTCUSD. Source: TradingView</figcaption></figure>
The post <a href="https://cryptopotato.com/bitcoin-spikes-toward-26-5k-as-us-cpi-clocks-4-for-may/" rel="nofollow">Bitcoin Spikes Toward $26.5K as US CPI Clocks 4% for May</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Bitcoin Spikes Toward $26.5K as US CPI Clocks 4% for May

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