Bitcoin is negotiated less than five percent compared to the record peak on Monday and remained mainly stable after the second consecutive monthly increase in uncertain American consumption prices on the price calendar of the federal reserve. The reference cryptocurrency was recently cited at around $ 116,800, down to the highest $ 123,000 set 24 hours earlier.
The June consumer price index increased by 0.3% over the month and by 2.7% over one year, corresponding exactly to the title forecasts but marking the fastest annual rate since February. The basic ICC increased by 0.2% over the month and by 2.9% over the year, subcontracting a consensus of a tenth of point on monthly printing but in accordance with the annual rate.
Nick Tiiraos of Wall Street Journal wrote on X that the figures were “close to consensus” but “not as sweet as May”, noting that “the basic prices increased by 0.23% in June … The prices of the titles increased by 0.29%”.
The data hardened the condemnation of certain analysts that the Fed will remain pending. “We now have: 1) ICC inflation has increased for 2 months in attractive way to its highest since February 2025, 2) a labor market” solid ” beating expectations for the 3 months of 3 months, 3) new rates that should be posted on August 1. The president of the Fed Powell does not cut the rates “, wrote macro-Newsletter the letter of Kobeissi.
Christopher Inks of TX West Capital has echoed this position: “IPC data give reasons for the Fed not to reduce rates. CPI has increased by two consecutive months now. ”
Bitcoin and crypto fall while inflation is triggered
However, some merchants focused on the crypto described liberation as largely balanced. “IPC arrives mainly according to the estimates … a little lower core, a slightly higher ICC. Not much here. As always, the most important thing is how the market reacts and digests data today, ”said Daan Crypto Trades.
Andreas Steno Larsen, founder of Steno Research, argued that the combination of the increase in goods of goods and the inflation of moderating services can be constructive for risk assets: “June CPI confirms our point of view: goods are quietly starting to reinfuse, but disinflation in services and houses always dominate the overall image …
Others were less bloody. “What do you know. Inflation is always stuck. The Fed’s break continues and the screaming Larps for rate drops every day continue to appear stupid … longer,” displayed the cartography graphic.
Treasury markets reacted with a modest rally: the 10-year yield increased to 4.475% after the report, while the US dollar index fired above 98.5. Contracts in the long term on interest rates continue to assess approximately 52% ratings of the first drop in the Fed in the September meeting, according to CME Fedwatch data.
At the time of the press, Bitcoin exchanged $ 116,175.
Star image created with dall.e, tradingView.com graphic
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