The US Bureau of Labor Statistics has announced a batch of economic data for June, but the Consumer Price Index (CPI) is raising eyebrows. According to the economic data, the US CPI came in at 2.7%, slightly hotter than the anticipated 2.6%.
The US CPI data of 2.7% is the highest level recorded since February 2025 and is significantly higher than the 2.4% recorded in May. Experts say the release of the new economic data is keeping the markets on edge as cryptocurrency prices wobble within minutes of the release.
Since the release of the data, Bitcoin and other cryptocurrencies have seen their market capitalization fall to $3.71 trillion. Bitcoin bore the brunt of the volatility, rising by 5% within minutes and falling by nearly 4% in under an hour.
