BREAKING! First US Inflation Data of 2024 Announced! Here is the First Reaction of Bitcoin and Dollar!

The SEC approved spot Bitcoin ETFs, making a landmark decision for the Bitcoin and cryptocurrency industry.

At this point, while Bitcoin did not react as big as expected to this decision, altcoins attract attention with their rise.

At this point, while BTC rose above $ 46,000, the largest altcoin Ethreum (ETH) increased by approximately 10% in the last 24 hours and rose above $ 2,600.

While the interest of the market and investors continues to be on ETF approval news, critical inflation data expected from the USA has been announced.

Here is the announced data:

Consumer Price Index Monthly: Announced 0.3% – Expected 0.2% – Previous 0.1%

Consumer Price Index Annual: Announced 3.4% – Expected 3.2% – Previous 3.1%

Core Consumer Price Index Monthly: Announced 0.3% – Expected 0.3% – Previous 0.3%

Core Consumer Price Index Annual: Announced 3.9% – Expected 3.8% – Previous 4.0%

The consumer price index is an important variable used to measure changes in consumer purchasing trends and US inflation.

A higher than expected value means a positive/bull market for the USD, and a lower than expected value means a negative/bear market for the USD.

First Reaction of Bitcoin and Dollar!

The first reaction of Bitcoin and the dollar after the announced data was as follows.

*This is not investment advice.

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