The US August CPI will be announced tomorrow night! Let’s see if Bitcoin goes up or down every time the data is released? | Moving Zone – The Most Influential Blockchain Media (Bitcoin, Cryptocurrency)

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The US August CPI will be announced tomorrow night! Let’s see if Bitcoin goes up or down every time the data is released?  | Moving Zone – The Most Influential Blockchain Media (Bitcoin, Cryptocurrency)
Blockonomics


The US Department of Labor will announce the consumer price index (CPI) for August at 20:30 on the evening of tomorrow (13). This article summarizes the price trend of Bitcoin in the past 24 hours after each release of CPI data in recent months. (Recap:Musk warns of ‘deflationary’ risk of sharp Fed rate hikes) (background supplement:Inflation slowing down! July CPI growth of 8.5% lower than expected; Ethereum surged 13% to break 1,900)

niceThe United States Department of Labor will announce the consumer price index (CPI) for August at 20:30 on the evening of tomorrow (13). Since July CPI is the first time the market has lower-than-expected data since April this year (8.5% announced, 8.7% predicted), the data to be announced tomorrow night will attract market attention and will verify that the Fed will continue to rise. Is there any sign of continued improvement in inflation under the efforts to curb prices?

The following will sort out the price trend of Bitcoin in the past 24 hours after each release of the CPI data by the U.S. Department of Labor, hoping to help you as one of the reference points.

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Source: investing.com

2022/8/10 (July) lower than market expectations / Bitcoin rises

US July CPI data: The annual growth rate was 8.5%, a sharp drop from 9.1% in June, and also lower than the market expectation of 8.7%, mainly due to lower gasoline prices, which offset the increase in food and housing costs.

At that time, motivated by the cooling of inflation, Bitcoin (BTC) rose by nearly 5% within an hour, successfully breaking through US$24,000, and reached a maximum of nearly US$25,000 within 24 hours, an increase of 8%.

Further reading:Inflation slowing down! July CPI growth of 8.5% lower than expected; Ethereum surged 13% to break 1,900

Bitcoin Trend | Source: TradingView

2022/7/13 (June) higher than market expectations / Bitcoin pulled back after a sharp fall

US June CPI data: The annual growth rate reached 9.1%, the largest increase since the end of 1981, higher than the market expectation of 8.8%. At that time, President Biden rushed to put out the fire and said that the inflation data in June was really outdated data, because the average oil price in the United States in July fell by 12% compared with June; at the same time, other commodities such as wheat also fell sharply after the end of the statistics.

After the release of data that refreshed a new high in nearly 40 years, Bitcoin plunged from $20,000 to $18,900 in ten minutes, a drop of more than 5.6%; fortunately, the currency price did not continue to fall after a short period of strong selling pressure It regained lost ground and within a few hours it was back at the price level when the CPI was announced.

Further reading:The US inflation rate hit a record high of 9.1% in June!It is estimated that the probability of the Fed raising interest rates by 4 yards has surged; Biden: CPI data is outdated

Bitcoin Trend | Source: TradingView

2022/6/10 (May) higher than market expectations / Bitcoin fell

US May CPI data: The annual growth rate was 8.6%, higher than the market expectation of 8.3%. The core CPI, which excludes food and energy costs, also rose at an annual rate of 6%, higher than the market’s forecast of 5.9%, highlighting a further rise in inflation.

Bitcoin (BTC) continued to decline after the data was released, reaching a minimum of $28,500 within 24 hours, a decrease of 5.4%.

Further reading:Ethereum hits a 15-month low” U.S. CPI unexpectedly hits a 40-year high! BTC falls below 28k, below $1,500

Bitcoin Trend | Source: TradingView

2022/5/11 (April) higher than market expectations / Bitcoin plummeted

US April CPI data: The annual growth rate reached 8.3%, although lower than the previous month’s 8.5%, but still higher than the original market estimate of 8.1%. Among them, the annual growth rate of core CPI was 6.2%, which was also higher than the expected 6%.

As soon as the data was released, Bitcoin immediately plunged 8% within 30 minutes, from the original price of about $31,500 to around $29,000, and the lowest price within 24 hours to around $26,700, falling more than 15% at one point.

Further reading:The U.S. inflation rate (CPI) surged to 8.3% in April, beating expectations!Bitcoin plummets 13%, breaks 28,000, hits new low in 2021

Bitcoin Trend | Source: TradingView

summary

On the whole, if the index after the CPI is announced is higher than market expectations, the short-term trend of Bitcoin will drop rapidly (and then pull back after the sharp decline in July). soared. The current August CPI preset value is 8.1%, whether it will be lower than expected again, it deserves our continued attention.

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