Today, the Bureau of Labor Statistics (BLS) released a key inflation indicator, the Consumer Price

U.S. CPI data was released: inflation rose to 2.9%, the cryptocurrency market is bullish

Today the Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) for December, a key indicator of inflation. The release of the CPI may strengthen the US dollar, but is unlikely to lead to an immediate change in the Federal Reserve’s monetary policy. US inflation was in line with expectations. The annual CPI came in at 2.9%, which is in line with expectations, compared to 2.7%. #Core CPI came in at 3.2%, slightly below the forecast of 3.3%. inflation in December was projected at 2.9% year-on-year, up from 2.7% in November. Core CPI inflation was expected to remain unchanged at 3.3%. Core CPI was forecast to rise 0.3%, while core CPI was projected to rise 0.2%. the #cryptocurrency market #rose after the U. S. core CPI rose 0.2% month-on-month in December, which was below the forecast of 0.3%. Specifically, BTC prices soared by USD 1K on the news; XRP is currently trading at USD 2.85, up more than 10% over the past day; ETH is up 1.80%, SOL is up 3.03%, DOGE is up 4.56% and ADA is up 7.90%. Also. Minutes of the December FOMC meeting showed Fed officials’ concern over rising inflation risks; the Fed also emphasized the potential impact on the U. S. economy, noting that changes in trade and immigration policies could make it more difficult to contain inflation. Nevertheless, 10x research head Marcus Thielen expects a move ahead of the January 29 FOMC meeting. #Bitcoin is trading inside a narrow triangle, suggesting a breakout is near. Thielen believes that lower inflation could trigger a jump in the bitcoin price.

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