{"id":1574885,"date":"2022-07-15T10:23:46","date_gmt":"2022-07-15T14:23:46","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/?post_type=station&p=1574885"},"modified":"2022-07-15T11:54:25","modified_gmt":"2022-07-15T15:54:25","slug":"bitcoin-ether-xrp-cardano-steady-despite-worse-than-expected-cpi-data-btc-finally-inflation-proof","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/bitcoin-ether-xrp-cardano-steady-despite-worse-than-expected-cpi-data-btc-finally-inflation-proof\/","title":{"rendered":"Bitcoin, Ether, XRP, Cardano Steady Despite Worse Than Expected CPI Data \u2014 BTC Finally Inflation Proof?"},"content":{"rendered":"
 <\/p>\n
 <\/p><\/div>\n
Bitcoin continued to exude strength on Friday despite worse-than-expected inflation figures earlier in the week. At press time, Bitcoin was trading at 20,905 after surging by over 5% in the past 24 hours and over 10% in the past three days. On the other hand, Ethereum was trading at $1,220 after adding over 12.86%, with XRP, ADA, and Solana increasing by roughly 7%, 5%, and 13%, respectively, according to data from CoinMarketCap.<\/p>\n
This comes after Bitcoin\u2019s brief plunge to $19,200 on Wednesday, with the U.S. Consumer Price Index showing that inflation had risen<\/a> by 9.1% in June, tapping a fresh 40-year-high and overshadowing May\u2019s 8.6%.<\/p>\n In response, President Joe Biden termed the current inflation figures as \u201cunacceptably high,\u201d promising to double down on efforts to lower gas prices. He also stated that they would \u201cgive the Federal Reserve the room it needs to help it combat inflation,\u201d a statement that Treasury secretary Janet Yellen buttressed on Thursday. The two statements have been taken to suggest that the Fed could continue to implement more aggressive measures to tamp down inflation.<\/p>\n