Recent developments have shown positive changes in the cryptocurrency market. The drop in US inflation to 3% has fueled growing interest in Bitcoin.
Bitcoin Rises Amid Inflation Drop
According to a study conducted by the New York Federal Reserve, Americans expect prices to rise by 3% within a year. This figure is below previous projections and close to pre-Trump standards. Consequently, Bitcoin's price showed a slight increase of 0.74% in the last 24 hours, currently fluctuating between $107,499 and $109,198, remaining above $108,000. Over the week, Bitcoin has also gained 2.41%, with its market capitalization reaching $2.16 trillion.
Trump's New Tariffs and Their Market Impact
On Monday, Donald Trump released documents regarding tariff increases set to take effect on August 1. Despite this, financial markets reacted better than expected. CPI data shows inflation at 2.4% in May, below the projected 2.6%. This creates favorable conditions for investors to continue viewing Bitcoin as a safe haven. Trading volumes remain stable at $45.2 billion, indicating controlled volatility.
Cryptocurrency Market Outlook
Signals from the US appear encouraging for Bitcoin even amid political uncertainty. Should inflation continue to decline, the cryptocurrency may reach new milestones. Investors maintain optimism regarding the future of the crypto market.
Thus, the decline in US inflation and Bitcoin's stability in current economic conditions provide a hopeful outlook for investors and create a favorable environment for further growth of the cryptocurrency.
