Inflation Rates Decreased in the US: How Did Bitcoin, Dollar, and Gold Get Affected?

The critical inflation data that investors have been eagerly awaiting in the US has been announced; How did Bitcoin, the Dollar, and Gold react to the data?

Critical Inflation Data Announced in the US

According to the US Bureau of Labor Statistics (BLS), the US inflation rate measured by the Consumer Price Index (CPI) fell from 4.0% in May to 3.0% in June on an annual basis, below expectations. On a monthly basis, CPI increased by 0.2% in June compared to 0.1% in May, and expectations were 0.3%.

The Core CPI, which excludes food and energy costs, decreased from 5.3% to 4.8% and expectations were 5.0%; on a monthly basis, Core CPI increased by 0.2% in June compared to 0.4% in May, and expectations were 0.3%.

How Did Bitcoin, the Dollar, and Gold React?

The price of Bitcoin, which was moving around $30,750 before the data was announced, started to rise with the announcement of the data and reached $30,983 with a 0.60% jump. The current price of Bitcoin is $30,769.

The Dollar Index (DXY) decreased by 0.4% with the announcement of the data, showing a decline to 101.049 level, and currently, DXY is at 101.155 level.

The price of Gold increased by 0.75% with the announcement of inflation in the US and showed an upward movement from $1935 levels to $1950 levels. Currently, Gold is trading at $1945 level.

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

BREAKING NEWS

Massive MANTA Token Withdrawal: DWF Labs Moves 2 Million Tokens from Binance

In a recent development reported by COINOTAG, on May...

Solana Mobile Unveils Seeker Phone Launch with Native Token SKR to Boost Web3 Development

In a recent update, Solana Mobile has revealed that...

Bitget Launches AWE Perpetual Contract with Up to 25x Leverage: A Game Changer in Crypto Trading

Bitget has officially unveiled the launch of its U-based...

CANARY FILED AN UPDATED VERSION OF ITS SPOT SOLANA ETF S-1 APPLICATION

CANARY FILED AN UPDATED VERSION OF ITS SPOT SOLANA...

Ajna Capital Expands Portfolio with SuperSol: A Game-Changer for Solana’s Scalability

On May 21, COINOTAG reported that Ajna Capital has...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img