According to the June measurement of the Consumer Price Index (CPI), the inflation rate in the US declined from 4.0% in May to 3.0%, falling below expectations. However, this decline did not impact the price of Bitcoin, but it led to market movements in traditional markets. Additionally, core CPI, which excludes volatile food and energy costs, also experienced a decrease.

Inflation Data:

In June, the CPI increased from 0.1% to 0.2% on a monthly basis compared to May. However, the expectations were at 0.3%, indicating that it fell below expectations. On the other hand, the core CPI, when excluding volatile food and energy costs, showed a decrease from the previous 5.3% to 4.8%, indicating a decline in inflation. On a monthly basis, the core CPI declined from 0.4% to 0.2%, falling below expectations.

Federal Reserve and Markets:

The decrease in inflation is considered an important indicator for Federal Reserve policymakers. However, the markets and the Federal Reserve maintain expectations of an interest rate hike in the Federal Open Market Committee (FOMC) meeting scheduled for July. The CME's FedWatch tool indicates a 91.1% probability of an interest rate increase during the FOMC meeting on July 25-26.

Bitcoin and Markets:

Bitcoin showed almost no reaction to the inflation news. However, there were market movements in traditional markets. The US 10-year Treasury yield declined by 6 basis points to 3.91%, while the 2-year yield also decreased by 14 basis points to 4.73%. The dollar index fell by 0.5%, while stock index futures showed an increase of nearly 1% at the opening. $BTC #CPIData

In Summary:

The June measurement of the CPI revealed that the US inflation rate was lower than expected. The decline in the core CPI can be considered a positive sign for Federal Reserve policymakers. However, markets still anticipate an interest rate increase in the FOMC meeting scheduled for July. The price of Bitcoin remained stable, unaffected by the inflation data. #USA #UnitedStates #interest #federal

Bitcoin, which made a journey towards 56K yesterday, rose to around 57-58K towards the Fed interest rate decision. The interest rate decision was left constant as it was known before. However, Powell stated in his speech that the inflation rate is still not as expected and that they cannot cut interest rates yet. (He underlined how incompetent he was) Of course, it is worth noting that, let me tell you in advance that these statements are about the US side manipulating things, as always. They should have made at least 1 interest rate cut by now. They were late by inflating mortgage loans before, and the world economy paid dearly for this. In my opinion, they are late again and they will make the world pay the price. This will actually bring a very good result for medium-term cryptocurrency investors like us. A bull season that will start in September at the latest will be much better than the previous one and we will achieve our goal. I think the patient investor will take his place among the new crypto millionaires…