Bitcoin Traders Await June CPI Data After Months of Volatility
Bitcoin hovers near $62,000 as the June CPI report set for release July 14 could trigger major price swings.
Bitcoin is trading near $62,000 as traders brace for the June US Consumer Price Index (CPI) report, due for release on July 14. The data follows a period of sharp volatility for the cryptocurrency, with past inflation prints having caused double-digit price swings.
According to BeInCrypto, Bitcoin has weathered four major CPI shocks in the past year, each resulting in significant market movement. The June report is now seen as a potential catalyst for the next directional move, with analysts closely watching for any signs of persistent inflation.
The CPI release comes amid a broader macroeconomic environment where central banks are adjusting policies in response to inflation trends. Bitcoin's correlation with traditional risk assets has increased, making the data particularly relevant for crypto traders.