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 BTC24,134.41-157.45-0.65
17.00 ETH1,904.56-25.60-1.33
17.00 LTC61.40-2.22-3.49
17.00 BNB317.68-1.58-0.50
17.00 XRP0.37-0.01-2.24
17.00 ADA0.55-0.01-2.60
17.00 DOT8.85-0.12-1.30
17.00 DOGE0.08-0.00-4.63
17.00 UNI8.65-0.27-3.03
17.00 LINK8.63-0.19-2.19

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