In news that’s sure to break some crypto-hearts, the US Bureau of Labor Statistics dropped a bombshell with their Consumer Price Index data for the first month of the year. Year-over-year, it’s a 3% increase, which is – wait for it – higher than anyone saw coming! 🤯
And how does Bitcoin react to such unexpected news? By taking a nosedive, of course! In a matter of minutes, BTC‘s price dropped a whopping two grand! Ouch! 💔
“*US JAN. CONSUMER PRICES RISE 0.5% M/M; EST. +0.3%”
“*US JAN. CONSUMER PRICES RISE 3% Y/Y; EST. +2.9%”
“*US JAN. CORE CPI RISES 0.4% M/M; EST. +0.3%”
“*US JAN. CORE CPI RISES 3.3% Y/Y; EST. +3.1%”
— *Walter Bloomberg (@DeItaone) February 12, 2025
Now, you might remember the December data that looked a bit more promising, but don’t be fooled! The January numbers are here, and they’re bigger and badder than anticipated. Core CPI, which doesn’t even include the volatile food and energy sectors, is up by 3.3%! Yikes!
And how does our dear Bitcoin respond to this financial fiasco? By dropping to its lowest price position since the early February crash! It went from a respectable $96,500 to a disappointing $94,500! Yowza! 🤑
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2025-02-12 16:49