Bitcoin Trades Flat Despite CPI Inflation Uptick

July’s CPI sees mild 0.2% rise, core inflation steady. Bitcoin reacts slightly positive, up 0.48% post-report.

Robot looking into the Global inflation index, whilst kneeling on a Bitcoin thats flat on earths ground.
Created by Kornelija Poderskytė from DailyCoin
  • July’s CPI movement has ignited questions amidst inflation expectations.
  • Core CPI’s intriguing trajectory has offered insights into broader economic shifts.
  • Bitcoin’s reaction to inflation news has sparked curiosity about digital market resilience.

The Consumer Price Index (CPI) exhibited a moderate uptick of 0.2%, aligning perfectly with economists’ projections and maintaining its steadiness from the previous month’s 0.2% increase in June. 

When gauged on a year-to-year basis, the tempo of CPI inflation stood at 3.2%, slightly below the anticipated 3.3% figure and in contrast to the 3.0% reading noted in June.


Taking a closer look at the Core CPI, which intentionally excludes the more volatile costs associated with food and energy, we find that it mirrored the 0.2% upswing in July, staying in line with the projected forecast of 0.2% and echoing the 0.2% upturn from June. 

On an annual scale, the Core CPI for July registered at 4.7%, just below the predicted 4.8%, remaining consistent with the 4.8% rate observed in June.

Shifting the focus to digital finance, the value of Bitcoin (BTC) displayed a minor alteration. The price of Bitcoin experienced a marginal uptick of 0.48% in the immediate aftermath of the U.S. government’s announcement regarding the acceleration in headline inflation.

This movement was short-lived, however, as Bitcoin quickly corrected back to around $29,500. Despite this initial dip, the cryptocurrency gradually regained its stride and currently holds a value of $29,700.

On the Flipside

  • The latest CPI increase of 0.2% in July doesn’t carry as much weight as the previous reading, given that many experts had already accurately forecasted this movement.
  • The significance of each CPI reading can vary, as not every iteration holds the same level of importance as its predecessor.

Why This Matters

Understanding the fluctuations in the CPI and its interplay with digital assets like Bitcoin provides a valuable lens into the evolving landscape of cryptocurrencies. As inflation dynamics influence traditional economies, their resonance within the crypto sphere underscores the intricate connection between these emerging financial realms.


To learn more about Ripple’s strategic response to the SEC and its pursuit of appeal permission, read here:

Ripple Prepares Response as SEC Asks for Appeal Permission

For insights into the intriguing analysis of Tether’s potential holdings of Bitcoin beyond reported figures, read this article:

Is Tether Holding More Bitcoin Than Reported?

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.