June data on consumer inflation in the U.S. showed an annual increase in the overall CPI to 2.7% (up from 2.4% in May) and the core CPI to 2.9%. At the same time, the monthly growth was 0.3% and 0.2% respectively. This indicates that prices continue to rise faster than expected a month ago, especially in the food and transportation segments.
The figures nearly matched forecasts for the overall CPI but exceeded expectations for the monthly change, which reduced the chances of a rate cut by the Fed in July. In response, the dollar index surged, while the bitcoin exchange rate fell. Now markets are awaiting the July PPI (Producer Price Index) data. A soft report may bring buyers back to the crypto market, while an aggressive one could deepen the BTC correction to $115,000–110,000.
