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Bitcoin Price Slips Below $60,000 After US CPI Data – Here’s Why BTC Could Rebound
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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
The Bitcoin price slipped below $60,000 level on Wednesday in wake of US Consumer Price Index (CPI) inflation data that supported the case for the US Federal Reserve to start cutting interest rates next month.
The CPI rose MoM pace of 0.2% and a YoY pace of 2.9% in July, more or less in line with expectations. Core CPI rose at 3.2% YoY, also as expected.
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