The recent surge of Bitcoin to $110,000 is linked to diplomatic talks between the US and China. Important inflation data in the US has also been published, which could influence future forecasts.
Bitcoin's Rise Amid International Talks
The leading cryptocurrency Bitcoin (BTC) rose to $110,000 due to the second round of talks between the US and China. The rise in cryptocurrency is expected to continue.
Key US Inflation Data
Several consumer inflation metrics have been released. The annual Consumer Price Index (CPI) was 2.4%, below the expected 2.5%, and the monthly CPI was 0.1%, also below the forecast of 0.2%. The Core CPI also fell short of expectations, standing at 2.8% annually.
Market Expectations and Reactions to Inflation
According to The Kobeissi Letter, the headline CPI inflation has risen again, which has not been seen since January 2025. This event has led to a decrease to 0% in the probability of the Federal Reserve cutting interest rates next week.
In conclusion, the current situation surrounding Bitcoin and inflation data provides insight into the direction of the economy and potential changes in the future. The US-China negotiations continue to influence financial markets.
