Bitcoin price began to fall during New York trading hours on June 11 after U.S. consumer price index (CPI) data came in below expectations at 2.4% year-over-year, versus the forecast of 2.5%. Core CPI also beat estimates at 2.8% versus the expected 2.9%.
“Even though overall inflation has eased, prices for many basic necessities continue to rise rapidly,” wrote capital markets commentator The Kobeissi Letter in a June 11 post on X, adding:
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📉 Why Bitcoin Price Is Down Today ?
Bitcoin price began to fall during New York trading hours on June 11 after U.S. consumer price index (CPI) data came in below expectations at 2.4% year-over-year, versus the forecast of 2.5%. Core CPI also beat estimates at 2.8% versus the expected 2.9%.
“Even though overall inflation has eased, prices for many basic necessities continue to rise rapidly,” wrote capital markets commentator The Kobeissi Letter in a June 11 post on X, adding:
“Americans Are Tired of Inflation.”
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