Bitcoin price reacts to inflation data and FOMC meeting anticipation.
TL;DR Summary
Bitcoin's price remained stable at around $26,000 despite a brief spike towards $26,500 following the release of the US Consumer Price Index (CPI) print, which came in below expectations. The odds of the Federal Reserve pausing its rate hike cycle after the Federal Open Market Committee (FOMC) meeting on June 14 climbed to over 90%. Trading firm QCP Capital believed that the Fed would not raise rates further this time, but subsequent FOMC meetings may yield different results. Michaël van de Poppe, founder and CEO of trading firm Eight, flagged $25,000 as a potential downside entry point for Bitcoin.
- Bitcoin price rejects CPI boost as market Fed rate pause odds near 95% Cointelegraph
- Bitcoin Rises After U.S. Inflation Data. The Fed Is Up Next. Barron's
- Bitcoin, Ethereum Rise as Inflation Eases to 4% in May Decrypt
- Bitcoin Dithers Below $26K as Investors Eye CPI Data, FOMC Rate Hike Decision CoinDesk
- Markets anticipate rate hike 'skip' at FOMC meeting CryptoSlate
Reading Insights
Total Reads
0
Unique Readers
11
Time Saved
2 min
vs 3 min read
Condensed
82%
553 → 99 words
Want the full story? Read the original article
Read on Cointelegraph