The Bureau of Labor Statistics reported on October 10 that the consumer price index (CPI) rose 2.4% month-on-month in September, the lowest level since February 2021.
Leena El Deeb, research analyst at 21Shares, explains: "Bitcoin and crypto assets more broadly are particularly sensitive to inflation indicators as they heavily influence the Federal Reserve's monetary policy decisions. The CPI data will have a positive impact on bitcoin prices as borrowing costs are reduced. As a result, we expect a recovery in market flows following recent geopolitical tensions that have disrupted the financial landscape."
21Shares Analyst: CPI Data Will Have a "Favorable Impact" on Bitcoin Price
2024-10-10 21:02:39
United States labor system accounting bureau 10 10 daily report monthdesk3cryptocurrencydesktopCrypto News
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