Insights

Better than expected U.S. inflation sees Bitcoin up 1%

exchange68September 12, 2024

0 1 1 minute read

Quick Take

U.S. Headline inflation, year-over-year, has come in at 3.0%, slightly lower than the 3.1% expected. The prior figure was 4.0% indicating a 1% drop from the new data and, thus, marking the lowest level in 2 years.
Core Inflation came in at 4.8%, also slightly below the 5.0% expected and prior figure of 5.3%.
According to Charlie Bilello, U.S. CPI has had twelve consecutive declines in the YoY inflation rate and is now at its lowest level since March 2021.
As inflation came in below expectation, Bitcoin is hovering just below $31,000
As a result, U.S. yields continue to head lower, and DXY heads to one-year lows at 101.15.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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