spot_imgspot_imgspot_img

Inflation Data Released in the US: How Did Bitcoin, Dollar, and Gold React?

  • According to the US Consumer Price Index data for May, inflation only increased by 0.1% compared to a 0.4% increase in April, lower than expected.
  • Annual inflation slowed to 4.0% in May from April, with expectations at 4.1%.
  • Before the data was released, Bitcoin, which was trading at $26,240, showed a 0.70% increase to $26,433.

The eagerly awaited inflation data for the US has been released, causing market turmoil and changing expectations for the Fed’s interest rate meeting.

Inflation Data Released in the US

abd-ekonomi

According to the US Consumer Price Index data for May, inflation only increased by 0.1% compared to a 0.4% increase in April, lower than the expected 0.2% increase. Annual inflation slowed to 4.0% in May from April, with expectations at 4.1%.


The core CPI, which excludes volatile food and energy costs, increased by 0.4% in April and May, in line with expectations. Core CPI fell to 5.3% in May from April, with expectations at 5.3%.

This latest news on inflation comes a day before the results of the US Federal Reserve’s monetary policy meeting. Prior to this morning’s data, market participants had priced in a 76% chance of the Fed’s pause in a historic series of rate hikes since March 2022. After the announcement, the probability of a pause rose to 94.2%.

Bitcoin, Dollar, and Gold’s Reaction

Before the data was released, Bitcoin, which was trading at $26,240, showed a 0.70% increase to $26,433, but then fell sharply to $25,891. BTC is currently trading at around $26,060.

The dollar index was at 103.303 before the data was released. With the release of the data, the DXY fell 0.25% to 103.047. The DXY is currently at a slight recovery of 103.212.

The situation with gold is not much different from Bitcoin. Gold, which was trading at $1,960 before the data was released, saw a rapid increase to over $1,971 with a 0.50% increase, but was unable to sustain its rise and fell to $1,958. The current price of gold is $1,961.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Merritt Vale
Merritt Valehttps://en.coinotag.com/
Merritt Vale is a 24-year-old woman who has a strong affinity for the Dogecoin community and has a particular love for the altcoin Shiba. With a passion for understanding the latest trends and developments in the cryptocurrency industry, Merritt provides fresh perspectives and valuable insights to her readers.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?