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Bitcoin

Bitcoin price dumps to the lowest level in 9 days on consumer price index data in the United States higher than expected

The United States’ Labor Office has issued a very expected consumer price index data for the first month of the year, indicating an annual increase of 3 %, which is higher than expectations.

The BTC price reaction was somewhat expected with an immediate rate of immediate pushing it by about two within minutes.

The data for the month of December, mentioned in mid -January, suggested a more positive look in terms of total inflation rates during the United States on an annual basis. However, the January numbers challenge this belief because all the measured data shows larger numbers than expected.

The basic consumer price index, which excludes the most volatile sectors such as food and energy, increases by 3.3 %, while estimates were 3.1 %. The regular consumer price index increased by 3 % on an annual basis instead of 2.9 %.

The BTC price reaction was immediately over this data with a sharp decrease in the price of approximately two Grand. The assets rose to 96,500 dollars before the announcement, but it fell to $ 94,500 (so far). This has become his slightest position since the collapse of early February when it was thrown to less than $ 92,000.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
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