US CPI Comes in At 2.9%, Will Bitcoin Price and Crypto Market Slump Or Surge?

Quick Summary:

The crypto community has been eagerly awaiting the US Consumer Price Index (CPI) data as it marks a major economic event to influence the market.

The US CPI report for December 2024 highlights that the inflation has increased to 2.9%, marking a 0.2% rise from the 2.7% recorded in November.

The US dollar index (DXY) fell below 109, after a two-day high above 110 causing a recovery in Bitcoin price.

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Article Details

Author / Journalist: Nynu V Jamal

Category: Crypto

Markets: India

Topics: US Federal Reserve Bitcoin News Altcoin News Bitcoin (BTC) Price Crypto Market 24/7 Cryptocurrency News US CPI

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-15 @ 13:47:32 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 532 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 25176546

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About CoinGape

Main Topics: Crypto

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