#LowestCPI2021 📉 *Why did Bitcoin fall below $60K despite falling US inflation?*

The decline in inflation data in the USA led to a drop in Bitcoin's value. 💸 Before the data, the largest cryptocurrency was trading at $61,000, but it dropped by about $2,500. 📊

🇺🇸 *In the USA, the CPI data for July showed a 2.9% annual increase, bringing inflation below 3% for the first time in 3 years.*

📉 While the figures met expectations and were even lower than some institutions predicted, they didn't seem to please the market. Bitcoin dropped by $2,500, reaching $58,800. 💵

🔻 *The expectation of a 50 basis point rate cut has disappeared.*

The main reason for the decline seems to be the Fed's interest rate decision, which was almost certain for September. 📉 The probability of a 50 basis point cut, which was over 50% before the inflation data, fell to 41% after the announcement. 🔄 The likelihood of a 25 basis point cut is now around 58%.

📉 *This expectation didn't just lower Bitcoin; US markets were also affected.*

The S&P 500 dropped below 5500, while the Nasdaq fell below 19,000. 📉 Tesla lost 2.6%, Coinbase 1.8%, and MicroStrategy 3.3%. $BTC

#LowestCPI2021 #BinanceLaunchpoolTON #MarketDownturn #SahmRule