CPI report could present uptick in US inflation — How will Bitcoin value react?

The S&P 500 index is presently buying and selling solely 6% under its all-time excessive, which was reached in January 202. Historically, such a state of affairs can be seen as a bullish signal for risk-on property, together with commodities and cryptocurrencies, however this time, it seems that traders have been utilizing the inventory market as a way of safety towards the current inflation surge, which sustained at over 4% between April 2021 and Might 2023.

For (BTC) and cryptocurrency traders, inflation has usually been considered as a optimistic issue influencing the worth, as evidenced by the earlier all-time highs of $65,000 and $69,000 that occurred throughout a interval of financial enlargement and rising inflation in 2021. Nonetheless, the present state of affairs is completely different as a result of inflation is making a comeback whereas the Federal Reserve has been successfully decreasing liquidity within the system. Consequently, the impression of inflation on cryptocurrencies stays unsure.

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