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🚨The inflation rate in the US just increased to 4.2%. This is big news. It's been three years since we've seen this number. This news is causing some concern in the market.
📌So why does this matter?
* When inflation is high, the Federal Reserve has a harder time lowering interest rates. There’s a lot of money out there. The dollar is performing well. This puts pressure on things like stocks and cryptocurrencies.
* We’ve recently seen Bitcoin hit support levels. People are waiting to see what the Federal Reserve will do next.
🧐This is the big question:
Is this inflation a one-time event? Or is it the start of a longer-lasting difficult economic period?
$BTC
#CPIWatching #bitcoin
#USCPISurgesToThreeYearHighOf4.2%