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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

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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.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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