The highly anticipated inflation data of the USA were announced. After the data, which came above expectations with 8.3%, Bitcoin experienced a decline.
US April inflation data have been announced. Accordingly, the data was above expectations with 8.3%. Economists had forecast April inflation to be 8.1%. Core CPI increased by 0.6% compared to the previous month and by 6.2% compared to April 2021. The broader CPI, on the other hand, rose 0.3% month-on-month and 8.3% year-on-year, again at its highest level in several decades.
This data reflects the breadth of price increases and, coupled with wage increases, indicates that inflation will remain high for a while.
Hot inflation data resulted in a decline in Bitcoin. As it is known, the high inflationary environment is a factor that increases the selling pressure in risky assets such as Bitcoin. Bitcoin fell from the levels of $ 31,700, where it was traded after the announced data, to the level of $ 29,100. BTC is trading at $ 29,200 at the time of publication.
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