Bitcoin stays its course below $27,000 despite wavering U.S inflation

Bitcoin's stability holds up under U.S inflation puzzle

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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Quick Take

The latest U.S. Consumer Price Index (CPI) data reflects a nuanced picture, with Month-over-Month figures surpassing the consensus by 0.1%.

The numbers portray a subtly mixed economic landscape with a year-over-year inflation rate slightly surpassing consensus figures at 3.7% and core inflation undershooting expectations by 0.2% to settle at 4.1%.

Interestingly, the crypto market, often seen as a barometer for economic volatility, showed unexpected stability. Bitcoin, the leading digital asset, remained mostly stationary, hovering below the $27,000 mark following the immediate release of the CPI data.

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US CPI data: (Source: Trading Economics)
US CPI data: (Source: Trading Economics)
BTCUSD:(Source: Trading View)
BTCUSD:(Source: Trading View)
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James Van Straten
James Van Straten
Former Lead Analyst 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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