June CPI Beat Sparks Bitcoin Surge, but Fed's September Hike Looms
The June CPI report showed a larger-than-expected decline in headline inflation due to falling energy prices, which led to an immediate rise in Bitcoin. However, core and services inflation remained flat or declined slightly, suggesting the Federal Reserve is likely to maintain its current rate before raising it by 25 basis points in September.
Topics: Bitcoin Crypto Market Reaction Federal Reserve Interest Rates