🔥Inflation data in the United States and how it affects Bitcoin.
Today, official data for
#inflación in the United States (
#CPI ) was released, where the results came out relatively better than expected. The price of
#Bitcoin began to react, causing the price to retreat slightly to $59,400 so far.
According to the July CPI report in the United States, it shows that the July Y/Y CPI data reached 2.9%, a slight improvement if we consider that 3% was expected.
In addition, in June the CPI marked 3%, so we could say that there is a decrease on this side as well. This decrease in the CPI is the lowest level since March 2021.
This data could give the Federal Reserve (
#FED ) confidence to prepare an interest rate cut, which has been speculated in recent months and is what investors are waiting for.
Remember that the FED had already been saying that there could be an interest rate cut this month. On the crypto market side, a rate cut would provide an increase in market liquidity, which would be positive for Bitcoin and other cryptocurrencies.
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