Better than expected U.S. inflation sees Bitcoin up 1%
Quick Take
- U.S. Headline inflation, year-over-year, has come in at 3.0%, slightly lower than the 3.1% expected. The prior figure was 4.0% indicating a 1% drop from the new data and, thus, marking the lowest level in 2 years.
- Core Inflation came in at 4.8%, also slightly below the 5.0% expected and prior figure of 5.3%.
- According to Charlie Bilello, U.S. CPI has had twelve consecutive declines in the YoY inflation rate and is now at its lowest level since March 2021.
- As inflation came in below expectation, Bitcoin is hovering just below $31,000
- As a result, U.S. yields continue to head lower, and DXY heads to one-year lows at 101.15.
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