Crypto
US Inflation Slows to 3.4% Amid Strong Bitcoin Price
The U.S. Consumer Price Index (CPI) inflation rate has slowed down to 3.4% as expected, according to recent data. This development comes as a relief for investors and policymakers alike.
The CPI measures the average change in prices of a basket of goods and services over time. The latest reading shows that inflation is still above the pre-pandemic level but has slowed down significantly since last year's peak.
Bullish, the institutionally focused global digital asset platform that owns CoinDesk, had been tracking this development closely. Despite the slowdown in inflation, the price of Bitcoin remains near $64,000, indicating a strong resilience of the cryptocurrency market.