Breaking: Crypto Plummets As CPI Worse Than Expected

The consumer price index has just been released. The CPI points to an 8.3% YoY change and 0.1% MoM change. These are not the numbers that the crypto market was hoping for. The estimated CPI was expected to be 8.1% YoY and -0.1% MoM.

As a result of the CPI data, Bitcoin and Ethereum prices are falling. BTC and ETH have both fallen close to 4% in a few minutes. The core CPI numbers are also worse than expected. The core CPI shows a 6.3% YoY increase, instead of the expected 6.1%.

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society’s biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain. He is also big into almost every popular sports and loves to converse on a wide variety of topics.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.