Crypto Market Reaction: US CPI Comes in Hot for December

The US Consumer Price Index (CPI) rose 3.4% annually in December. The so-called Core CPI, which strips out food and energy costs, came in 0.1% above expectations and was up 3.9% year-on-year.

The S&P 500 futures dropped sharply after the news broke. Yields on the ten-year Treasury were flat, while the US dollar index erased an earlier decline. Bitcoin dropped from $47,331 to $46,987 after the news, while Ethereum (ETH) dipped from $2,654 to $2,629.

This is a developing story.

Best crypto platforms in Europe | January 2024

Coinbase Explore →

KuCoin Explore →

Metamask Portfolio Explore →

Wirex App Explore →

YouHodler Explore →

Margex Explore →

Explore more

The post Crypto Market Reaction: US CPI Comes in Hot for December appeared first on BeInCrypto.