business
Live updates: Soft core inflation gave crypto a bounce, but only bitcoin held up on the week
Key takeaways
- Bitcoin rose about 1.9% over 24 hours to roughly $62,600, leading the majors, per Coin Desk data.
- Core inflation, which strips out food and energy and is the gauge the Federal Reserve leans on, rose just 0.2% on the month, below the 0.3% forecast, and 2.9% over the year.
- The bounce is shallow and concentrated in bitcoin.
Bitcoin rose about 1.9% over 24 hours to roughly $62,600, leading the majors, per Coin Desk data.
Headline inflation rose 0.5% on the month and 4.2% over the year, the fastest annual pace since April 2023, but energy did most of the work, climbing 3.9% on the month and accounting for more than 60% of the increase as oil rose on the Iran conflict.
Core inflation, which strips out food and energy and is the gauge the Federal Reserve leans on, rose just 0.2% on the month, below the 0.3% forecast, and 2.9% over the year.
Article preview — originally published by CoinDesk. Full story at the source.
Read full story on CoinDesk →
More top stories
Aggregated and edited by the Scoop newsroom. We surface news from CoinDesk alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop