News Formal

Bitcoin Recovers After CPI Data, Market Awaits FOMC

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 9 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 68%

Cryptocurrency News

Bitcoin,CPI,FOMC

Bitcoin bounced back after slower-than-expected August inflation data. While the US CPI rose 0.2%, meeting analysts' expectations, the core CPI was hotter than forecast at 0.3%. This initially caused Bitcoin's price to dip but it quickly recovered, trading around $58k at press time. Experts predict volatility ahead of next week's FOMC meeting.

bounced back on Thursday after slower August inflation data. The US CPI hiked 0.2% last month and met analysts’ expectations.

“I think we can use the dips to scale slowly. There may be some volatility before or after the FOMC, but volume should drive a sustained move up in October.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto market braces for Euro CPI, FOMC minutes – What’s next for BTC, ETH?The crypto market retraced slightly on Monday, the 19th of August. The global crypto market capitalization was down by 3% at the time of writing
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin and gold struggle, stocks dump and pump after CPI data sparks Fed rate cut uncertaintyThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »