Bitcoin is facing intense volatility following the release of the US CPI data for June. Markets are wobbling following the release of slightly hotter-than-expected CPI data as the odds of a Fed rate cut in July slumped to new lows.
US CPI Data Pegged At 2.7% YoY
The US Bureau of Labor Statistics has announced a batch of economic data for June, but the Consumer Price Index (CPI) is raising eyebrows. According to the economic data, the US CPI came in at 2.7%, slightly hotter than the anticipated 2.6%.
The US CPI data of 2.7% is the highest level recorded since February 2025 and is significantly higher than the 2.4% recorded in May. Experts say the release of the new economic data is keeping the markets on edge as cryptocurrency prices wobble within minutes of the release.
Ahead of the release of the CPI and PPI data, The Kobeissi Letter warned investors of a “big selloff” if data comes in hot, citing inflationary concerns from Trump tariffs.
“US June CPI just came in at 2.7% year-over-year – a touch hotter than the 2.6% estimate,” said the pseudonymous Kyledoops. “Not a massive miss, but enough to keep the Fed guessing and the market on edge.”
This is a developing story.
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Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
