Bitcoin trading flat following uptick in U.S. inflation to 3.2%

Bitcoin's response to stronger than expected U.S. inflation trend comes into focus

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 recent U.S. Consumer Price Index (CPI) data reveals a stronger inflationary trend than the previous month. Headline inflation has risen to 3.2% from 3% in June, lower than expected, with forecasts coming in at 3.3%.

Concurrently, core inflation remained steady with the forecast, manifesting at 4.8%, but came in at 4.7% year over year, 0.1% lower than forecasts.

Inflation (Source: Trading Economics)
Inflation (Source: Trading Economics)

Bitcoin reacted slightly positively to the news towards acceleration in headline inflation, up 0.48%.

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BTCUSD
Source: TradingView

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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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