Insights

CPI comes better than expected, Bitcoin breaks $28,000 – core inflation doesn’t budge

exchange68September 13, 2024

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Quick Take

CPI year-over-year came in at 4.9%. It was expected to come in at 5.0%
While core CPI year-over-year came in at 5.5% and was expected at 5.5%
Bitcoin broke $28,000 on the news of CPI.
CryptoSlate will post more CPI data throughout the day, but core inflation seems to be the big issue, which has been trading in this range for almost a year.

US Core Inflation: (Source: Trading Economics)

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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