Crypto prices have maintained a strong correlation with most macroeconomic factors. It’s no longer debatable that inflation affects the trend in the crypto market. Most past digital asset declines took root from the swing in the general global economy.
The intensity of the crypto winter through the year’s first half had accumulated strength from potential inflation. However, due to the suspicions of inflation rise in the economy, crypto prices have shown signs of decline. The recent data on CPI have even pushed the market to another red region.
The Consumer Price Index (CPI) is an economic indicator that measures inflation through the movement of the cost of goods and services. The percentage increase in the CPI over a given period provides the economy’s inflation rate