Insights
Aster’s perpetuals daily volume edges past Hyperliquid with over $12 billion trading surge Metaplanet outpaces Strategy with significant Bitcoin acquisition despite share slump Bitcoin’s volatility drops below Nasdaq 100 firms as maturation marks milestone Stablecoins could face yield compression after Fed’s rate cut Solana dips 6.5% then trims losses to $236
Home ▸ Insights ▸ Macro ▸
This article is more than 2 years old...

May CPI report shows disinflation persisting as Bitcoin rises

Bitcoin is above $26k in the wake of new CPI numbers from the U.S.

James Van Straten
Jun. 13, 2023 at 1:49 pm UTC
1 min read
Updated: Jun. 13, 2023 at 1:50 pm UTC

Quick Take

  • The U.S. consumer price index report for May came in today with numbers lower than expected.
  • The trend of decreasing inflation persists in the U.S.; however, the core index remains persistently high.
  • Following the release of the CPI report, Bitcoin experienced a boost, increasing by 1.8% to a new value of $26,400.
  • Based on the current market reactions, there's an 80% likelihood of a market “pause” being factored in.
BTCUSD: (Source: TV)
BTCUSD: (Source: TV)
Source: US economic Calendar
Source: US Economic Calendar

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

In this insight
Bitcoin BTC (24h)
$88,360.43 +0.39%
Vol: $23.1B MCap: $1.76T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

More about Bitcoin