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CPI comes better than expected, Bitcoin breaks $28,000 – core inflation doesn’t budge
Bitcoin's breakthrough to $28,000 coincides with the announcement of CPI data, demonstrating crypto responsiveness to economic fluctuations.
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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.
