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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting the sensitivity of digital assets to macroeconomic data, Bitcoin recovered some of its recent losses following the release of US inflation figures. According to reports, the US core Consumer Price Index (CPI), which excludes volatile food and energy costs, rose by 0.2% in May, coming in lower than market fears. This slowdown provided relief to investors after several days of sustained selling pressure across the cryptocurrency sector.
This improvement comes amid mixed global economic signals, with China's trade balance showing robust export growth of 19.4% per market data, suggesting resilient global demand despite inflationary pressures. Compared to previous readings, the stabilization of core inflation at lower levels bolsters expectations that the Federal Reserve may find more room to maneuver regarding future interest rate decisions, supporting risk appetite in tech and alternative assets.
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Sign InLooking ahead, traders are monitoring Bitcoin's technical support levels following this temporary recovery. On the economic calendar, markets are awaiting the outcomes of OPEC meetings and Federal Reserve commentary to gauge the dollar's future path. Attention will also turn to consumer sentiment data, such as the Westpac Consumer Confidence index which recently fell by 2.9%, as these factors influence global liquidity and crypto asset flows.