Bitcoin hits $25,000 for the first time in 2 months after U.S. inflation slows

The bitcoin price rose above the $25,000 mark for the first time since mid-June this year after the U.S. released lower-than-expected inflation figures. This helped ease investor concerns about an interest rate hike by the Federal Reserve (Fed).

The bitcoin price rose 2.2% in the morning to $25,031, its highest level since June 13, before falling to $24,338.75 currently.

According to the U.S. Department of Labor, the consumer price index (CPI) rose 8.5% year over year in July after hitting a 40-year high of 9.1% in June.

The Producer Price Index (PPI) decreased 0.5% in July from the previous month, marking the first decline in the PPI since April 2020, when the COVID-19 epidemic began.

The Spot Market is Open

Monday, August 15, 2022

Crypto Updated at	USD Price	Change	%Change
17.00 BTC	24,134.41	-157.45	-0.65
17.00 ETH	1,904.56	-25.60	-1.33
17.00 LTC	61.40	-2.22	-3.49
17.00 BNB	317.68	-1.58	-0.50
17.00 XRP	0.37	-0.01	-2.24
17.00 ADA	0.55	-0.01	-2.60
17.00 DOT	8.85	-0.12	-1.30
17.00 DOGE	0.08	-0.00	-4.63
17.00 UNI	8.65	-0.27	-3.03
17.00 LINK	8.63	-0.19	-2.19

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