- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,139.00-0.51%
- INTEREST37.00%-1.00
- BITCOIN82,328+0.59%
- October 20, 202621°
- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,139.00-0.51%
- INTEREST37.00%-1.00
- BITCOIN82,328+0.59%
- October 20, 202621°
Bitcoin hits $62,650 ahead of US inflation data
Bitcoin rose in Asian markets ahead of the US Consumer Price Index (CPI) data, approaching the $62,650 level. Investors are assessing the impact of the inflation figure on the Federal Reserve's (Fed) interest rate policy.
The critical US inflation data is setting the agenda for Bitcoin and crypto markets. Bitcoin, the market's largest asset, saw a slight rise in early Asian trading, reaching around $62,650.
Investors are focused on the US Consumer Price Index (CPI) figures due today. This data is expected to directly impact the Federal Reserve's (Fed) future rate cut timing and monetary policy expectations.
Ameera Khalid, founder of financial markets platform Skoub, says markets are closely watching not only monetary policy clues but also geopolitical developments.
Experts stress that the trajectory of US inflation and statements from Fed officials could be decisive for Bitcoin and other crypto assets. They assess that rising regional tensions, persistent inflationary pressures, or signals of tighter Fed policy could create new selling pressure in crypto markets.
Bitcoin tested the $62,650 level in early trading, up 0.46%. Market participants are bracing for potential volatility following the US inflation data.
Source: Sabah
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