Hello lovely people of Hive and Leofinance community. Hopefully you will be enjoying your life with good health and spirit. Friends, CPI data has been rolled out. According to CPI data, inflation rate drop down to 3.2% which was around 3.7% previously. Inflation rate is almost 0.1% lower than expected.
CPI down is a good news for investors as it will move money from fiat to crypto currency. But at the same time despite lower interest rate dip observed in market. Crypto market observed a little dip of 1.5% in last 24 hours. Amost $20 Bilion wiped out from the crypto market in last 24 hours.
CPI report is showing the bullish trend in market but interestingly market observed dip. There is no need to worry as this may be a bear trap. Just like bull trap bear trap exist to create panic in market. Market often moves in both ways after a big news.
Time to wait for a moment. One good news or event may help bullish run in market. What is your opinion my friends? Do you think that current market situation is a bearish trap?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
