Bitcoin Spikes Toward $26.5K as US CPI Clocks 4% for May

The general estimates for the CPI and core CPI numbers were 4.1% and 5.2%, both of which differed slightly in reality.

As a result, bitcoin responded with an immediate price surge that pushed it several hundred dollars north in minutes.

• The United States announced inflation rates for the month of May on 13 June, indicating a year-on-year increase in the consumer price index of 4%, slightly below expectations of 4.1%.
• The core CPI, which excludes more volatile sectors such as food and energy, jumped 5.3%, slightly above estimates for 5.2%.
• The primary cryptocurrency immediately responded with a brief price surge that lifted it from $26,200 to a three-day high of $26,400. However, the asset lost almost all traction in the following minutes.
• It is worth noting that BTC used to be much more volatile during previous CPI announcements, with some taking it on a massive four-digit ride.
• The falling CPI number could mean that the US Fed will finally move away from its monetary policy of raising interest rates, which is considered a bullish signal for risk-on assets like BTC.

The general estimates for the CPI and core CPI numbers were 4.1% and 5.2%, both of which differed slightly in reality.

As a result, bitcoin responded with an immediate price surge that pushed it several hundred dollars north in minutes.

• The United States announced inflation rates for the month of May on 13 June, indicating a year-on-year increase in the consumer price index of 4%, slightly below expectations of 4.1%.
• The core CPI, which excludes more volatile sectors such as food and energy, jumped 5.3%, slightly above estimates for 5.2%.
• The primary cryptocurrency immediately responded with a brief price surge that lifted it from $26,200 to a three-day high of $26,400. However, the asset lost almost all traction in the following minutes.
• It is worth noting that BTC used to be much more volatile during previous CPI announcements, with some taking it on a massive four-digit ride.
• The falling CPI number could mean that the US Fed will finally move away from its monetary policy of raising interest rates, which is considered a bullish signal for risk-on assets like BTC.