Reserve

Core

Bitcoin

Spot

<ul> 
 <li>The US CPI dipped to 3% in June from 3.3% the previous month as per recent data.</li> 
 <li>It has increased wagers on the possibility of a rate decrease by the US Federal Reserve.</li> 
</ul> 
Crypto markets and the rest of the global financial industry were waiting with bated breath for today’s US <a href="https://thenewscrypto.com/investors-await-u-s-cpi-data-to-gauge-feds-interest-rate-stance/" target="_blank" rel="noreferrer noopener">CPI</a> numbers. Notably, compared to Wall Street’s predictions, the most recent figures from the U.S. Labor Department show that inflation slowed to 3% in June. 
Market mood, which had been hurt recently by the German government’s big dump, looks to have been lifted today by the positive data. A possible upswing in the price of Bitcoin and other cryptocurrencies has also been speculated about as a result. 
<h3 class="wp-block-heading" id="h-possibility-of-interest-rate-cut">Possibility of Interest Rate Cut</h3> 
The newest figures from the US Bureau of Labor Statistics show that the US CPI dipped to 3% in June from 3.3% the previous month. Inflation in the consumer price index (CPI) was steady in May compared to April, but it rose by 0.1 percent when looking at the data on a month-over-month (MoM) basis. It was consistent with market expectations, even with the little increase. 
Furthermore, it has increased wagers on the possibility of a rate decrease by the US <a href="https://thenewscrypto.com/custodia-bank-files-appeal-after-court-ruling-on-federal-reserve-account-access/" target="_blank" rel="noreferrer noopener">Federal Reserve</a> as early as September. However, according to Core CPI numbers, which do not include food and energy costs, inflation slowed to 3.3% in June from 3.4% the month before. Core CPI falls short of market expectations and May’s number of 0.2% on a month-over-month basis, coming in at 0.1%. 
The price of <a href="http://bitcoin.org" target="_blank" rel="noreferrer noopener nofollow">bitcoin</a> initially surged on the news and rose all the way till $59,270. However, the bears pulled the price down and at the time of writing, it is trading at $57,519 as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noreferrer noopener nofollow">CMC</a>. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/us-spot-bitcoin-etfs-register-net-inflows-extending-4-day-streak/" target="_blank" rel="noreferrer noopener">US Spot Bitcoin ETFs Register Net Inflows, Extending 4-Day Streak</a>

US CPI Inflation Cools Down to 3% in June, Sparking Positive Sentiment

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TheNewsCrypto

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