US inflation figures are for June, and they continue to rise. Simultaneously, the price of BTC is also experiencing increased volatility as the numbers clock in.
- Data from the US Bureau of Labor Statistics showed that the Consumer Price Index for all urban consumers increased by 1.3% — seasonally adjusted, and 9.1% over the past 12 months — not seasonally adjusted.
The index of all commodities less food and energy in June (SA) increased by 0.7%; Up 5.9% year on year (NSA).
- For those unaware, the Consumer Price Index (CPI) is the most common gauge for inflation in the US, as it measures the average change over time in prices that urban consumers pay for services and a market basket of consumer goods.
- To some extent, this has also led to turmoil in the cryptocurrency market. At the time of writing, the price of BTC rose briefly to $20,126.39 and then dropped to $19,200.
- The amplitude of this candle is 4%, indicating some serious volatility.
- According to data from Coinglass, at the time of writing, the total liquidations for the day stood at approximately $180 million, of which $47 million occurred during the last hour.
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