US CPI data published on Aug. 12 drove a brief sell-off across crypto, spot gold and US equity futures, with all three reversing course shortly afterward. Bitcoin slipped from $64,452 to near $64,000 immediately after the release, according to HTX, before rebounding to $64,146.37 at press time, up 0.83% over 24 hours. Nasdaq 100 futures dipped, then extended gains to 0.9%, based on Bitget data. Spot gold fell about $30 before climbing more than $20, last seen at $4,412.38 per ounce. A preliminary market read indicated that US underlying inflation in July was moderate, which could reduce pressure on the Federal Reserve to raise rates. The three markets all showed the same dip-then-rebound pattern after the data.
US CPI data released on Aug. 12 set off a quick round of selling in crypto, spot gold and US equity futures, then prices turned higher across the board.
Bitcoin fell from $64,452 to around $64,000 in the minutes after the release, according to HTX market data. It then moved back up, and was changing hands at $64,146.37 at press time. That left the token up 0.83% over the past 24 hours.
Data from Bitget showed US equity futures also dipped before recovering. The Nasdaq 100 futures contract extended its gain to 0.9%.
Spot gold dropped roughly $30 on the release, then rallied by more than $20. It was last quoted at $4,412.38 per ounce.
A preliminary market read suggested the CPI report pointed to tame underlying inflation in the US for July, which could ease pressure on the Federal Reserve to raise interest rates.
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