Bitcoin bulls fight for ground after CPI comes in higher than forecast, BTC price stays volatile ahead of the Wall Street open.
Consumer Price Index “The index for gasoline was the largest contributor to the monthly all items increase, accounting for over half of the increase,” part of an“Also contributing to the August monthly increase was continued advancement in the shelter index, which rose for the 40th consecutive month.
”Earlier on the day, crypto market participants had warned that a “hot” CPI reading would pressure the market, as it would imply that inflation remained more stubborn than hoped. This, in turn, could have implications for how restrictive economic policy remains in the future.Tip: Don't open positions into news announcements and wait 30 mins after data is out to start trading.
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