{"id":2016,"date":"2024-06-12T06:02:43","date_gmt":"2024-06-12T06:02:43","guid":{"rendered":"https:\/\/cryptogoldex.com\/index.php\/2024\/06\/12\/crypto-market-bounces-back-after-mild-cpi-data\/"},"modified":"2024-06-12T06:02:43","modified_gmt":"2024-06-12T06:02:43","slug":"crypto-market-bounces-back-after-mild-cpi-data","status":"publish","type":"post","link":"https:\/\/cryptogoldex.com\/index.php\/2024\/06\/12\/crypto-market-bounces-back-after-mild-cpi-data\/","title":{"rendered":"Crypto market bounces back after mild CPI data."},"content":{"rendered":"<p>The U.S. Consumer Price Index (CPI) data for last month was unchanged, down from 0.3% in April. The year-over-year (YoY) CPI also decreased from 3.4% in April to 3.3% in May, which was better than expected.<\/p>\n<p>Core CPI YoY levels dropped from 3.6% to 3.4% last month, marking the lowest rate since April 2021. The general consensus had predicted a 3.5% point for this index.<\/p>\n<p>Following the improved data, the total crypto market cap grew by 3% to reach $2.65 trillion, as reported by CoinGecko. There was noted &#8220;aggressive buying&#8221; of June 13 calls and increased funding rates, suggesting market positioning for an upside move.<\/p>\n<p>Analysts from QCP Capital commented that &#8220;A neutral FOMC outcome could propel the crypto market to retest its highs once more.&#8221; They also highlighted the potential for cryptocurrencies and risk assets to see liquidity inflows if the Fed mirrors decisions from other apex banks.<\/p>\n<p>The recent rate cuts by the European Central Bank and the Bank of Canada have influenced market sentiment. The U.S. dollar index (DXY) rose to a 30-day high following the news, implying that more capital became available for investments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Consumer Price Index (CPI) data for last month was unchanged, down from 0.3% in April. The year-over-year (YoY) CPI also decreased from 3.4% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[616],"tags":[],"class_list":["post-2016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-indicators-and-cryptocurrency-market"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/2016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/comments?post=2016"}],"version-history":[{"count":0,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/2016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media\/2015"}],"wp:attachment":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media?parent=2016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/categories?post=2016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/tags?post=2016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}