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Anticipation of the Federal Reserve potentially easing its anti-inflationary measures has fueled presumptions of a BTC rally as lower interest rates could increase investment in riskier assets.
The price of the primary cryptocurrency slightly increased after the US Bureau of Labor Statistics released the latest Consumer Price Index data. It spiked to almost $64,000, witnessing a 4% surge on a 24-hour scale.The Federal Reserve’s goal is to decrease the annual inflation to 2%. As such, it enforced multiple anti-inflationary policies in the past few years, such as rate hikes.
The latest CPI data is one of two releases before the next Federal Open Market Committee Meeting on June 12.Lowering the interest rates makes money borrowing easier, potentially sparking more interest in riskier assets such as Bitcoin.
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