US Labor Department "CPI Rises by 2.7%"... 0.1%p Lower Than Market Expectations
Morning Sees Altcoin-Led Surge... ETH Records 9% Increase
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On the 12th (local time), the US Bureau of Labor Statistics announced that the July US CPI rose 2.7% compared to the same month last year. The annual increase rate remained the same as the previous month, which was 0.1 percentage points lower than the market expectation of 2.8%.
The core CPI, excluding volatile energy and food prices, rose 3.1% year-on-year and 0.3 percentage points month-on-month. The year-on-year increase in the core index reached its highest level in five months since February, rising from 2.9% in June.
As the CPI recorded a lower figure than market expectations, the asset market rose on interpretations that the possibility of the US Federal Reserve lowering interest rates increased. The cryptocurrency market, including Bitcoin (BTC), saw a sharp surge. The rise of 'risky assets' altcoins was particularly notable. Ethereum (ETH) led the market surge with approximately a 9% increase.
With Bitcoin breaking through $120,000 again, numerous altcoins recorded over 5% gains, creating a clear bullish market atmosphere.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
