U.S. Inflation Drops 1%, Bitcoin Price Reaches Above $31K

• U.S. Headline inflation has come in at 3.0%, slightly lower than the 3.1% expected and marking the lowest level in 2 years
• Core Inflation came in at 4.8%, also slightly below the 5.0% expected and prior figure of 5.3%.
• As a result, Bitcoin is hovering just below $31,000 as US yields continue to head lower and DXY heads to one-year lows

Better than Expected U.S. Inflation

The latest report on the United States’ inflation rate shows that it has come in at 3.0%, which is lower than the 3.1% that was expected and marks the lowest level in two years. The prior figure was 4%. This 1% drop indicates that core inflation has now come in at 4.8%, which is also slightly below the 5% that was anticipated and the prior figure of 5.3%.

Impact on Bitcoin Price

As inflation has come in below expectation, Bitcoin is hovering just below $31,000 as a result of this news; US yields continue to head lower while DXY heads to one-year lows at 101.15 . Charlie Bilello has reported that U.S CPI has had twelve consecutive declines in its year-over-year inflation rate, making it currently stand at its lowest since March 2021

Trends Over Time

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In conclusion, although US headline inflation came out lower than expected, it still marks a low point for the past two years when compared to expectations from previous months and reports from earlier this month before today’s release date (July 12th). This news resulted in a decrease of many indicators such as US yields continuing to decline further while DXY drops to one-year lows around 101 points; these conditions have contributed towards an increase of 1% for Bitcoin prices which are now hovering just under 31k USD overall