Bitcoin is facing intense volatility following the release of the US CPI data for June. Markets are wobbling following the release of slightly hotter-than-expected CPI data as the odds of a Fed rate cut in July slumped to new lows.
B4Bit
07/16 02:30
Bitcoin Reacts As US CPI Data Comes In At 2.7%
Bitcoin Reacts As US CPI Data Comes In At 2.7%
Following the release of June's US CPI data, Bitcoin price has taken a major hit as the odds of a Fed rate cut gets thinner.
- New economic data puts June CPI at 2.7% year-over-year, slightly hotter than expert estimates.
- Bitcoin price tumbled by nearly 4% following the release of the data.
- Chances of a rate cut in July have fallen as experts tip a cautious stance by the Federel Reserve.
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