US Inflation Data: Bitcoin and Ethereum Reactions

The inflation data announced in the US has managed to attract the attention of cryptocurrency investors. The Consumer Price Index (CPI) figure, with an annual inflation rate of 3%, came in below expectations, creating a positive atmosphere in the markets.

Before the announcement, Bitcoin was trading at around $110,850. However, following the release of the CPI data, Bitcoin suddenly surged to $112,100. This situation presented profit opportunities for investors.

On the other hand, Ethereum also reacted similarly, climbing from $3,948 to $4,024. This rise caused quite a bit of satisfaction among Ethereum investors. The lower-than-expected inflation rate increased risk appetite in the markets, prompting investors to take action.

The US Dollar Index (DXY), which was at 99.03 before the data release, fell to 98.78 after the announcement, strengthening investors' willingness to take risks. Analysts note that the low inflation has raised expectations that the Federal Reserve could begin its interest rate cut process sooner.

Nevertheless, the continued volatility in the cryptocurrency market is a sign that investors remain cautious. Among the critical points investors should monitor is the importance of staying above the $112,100 level. Bitcoin and Ethereum investors need to closely follow these levels.