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Analysis

Bitcoin builds a red candle from $1,400 in minutes as US CPI climbs 7.5% in January

February 10, 2022 - Around 1 mins mins to read

Bitcoin price fell by more than $1,000 in less than a few minutes as the US CPI figures for January were released.

The Consumer Price Index (CPI) is used to measure the average change over time in the prices paid by urban consumers for a basket of specific consumer goods and services. Many also consider this to be a approximation of the current inflation rate.

For January, the urban consumer CPI rose to 7.5% from 7% in December – non-seasonally adjusted.

February 2022 CPI information is expected to be released on March 10th.

With this in mind, many polls were expecting the CPI to rise, and it turned out to be a sell the truth event for the price of BTC, which at the time of writing this article – a few minutes later – was around 1,400 $ has lost numbers will be published.

Bitcoin builds a red candle

Source: TradingView

At the time of writing, bitcoin price is trading at $43,743, down 1.7% in one hour and about 0.5% in 24 hours, but still up 18.8% on the week is.

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#Bitcoin

builds

candle

climbs

CPI

January

minutes

red

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Analysis

Bitcoin builds a red candle from $1,400 in minutes as US CPI climbs 7.5% in January

Bitcoin price fell by more than $1,000 in less than a few minutes as the US CPI figures for January were released.

The Consumer Price Index (CPI) is used to measure the average change over time in the prices paid by urban consumers for a basket of specific consumer goods and services. Many also consider this to be a approximation of the current inflation rate.

For January, the urban consumer CPI rose to 7.5% from 7% in December – non-seasonally adjusted.

February 2022 CPI information is expected to be released on March 10th.

With this in mind, many polls were expecting the CPI to rise, and it turned out to be a sell the truth event for the price of BTC, which at the time of writing this article – a few minutes later – was around 1,400 $ has lost numbers will be published.

Bitcoin builds a red candle

Source: TradingView

At the time of writing, bitcoin price is trading at $43,743, down 1.7% in one hour and about 0.5% in 24 hours, but still up 18.8% on the week is.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page