Business News Asia
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.
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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 |