Best Crypto to Buy Now 10 August – Aptos, Rocket Pool, Maker
U.S. inflation metrics saw a notable rise recently, with the Consumer Price Index (CPI) experiencing a 3.2% increase over the past year leading up to July.
Despite the financial development indicated by this data released by the Bureau of Labor Statistics (BLS) on Thursday, the performance of Bitcoin and Ethereum has been relatively lackluster, with both showing a modest decline of 0.27% and 0.22%, respectively.
In light of this, what are the best cryptos to buy now?
July's CPI figures represent a slight bounce from June's when inflation was documented at 3%.
Monthly data shows a 0.2% consumer price rise in July, mirroring the previous month's increment.
Home prices played a significant role in this trend, accounting for a 0.4% rise which made up 90% of the entire monthly CPI surge.
While traditional markets monitor these numbers with keen interest, major cryptocurrencies such as Bitcoin and Ethereum appeared indifferent to the recent report from the U.S. Bureau of Labor Statistics.
Their values remained around $29,400 and $1,850 respectively, according to CoinMarketCap.
The Federal Reserve is in the process of strategizing how best to tackle the prevailing inflation without thrusting the economy into recession.
This month's CPI data will certainly be a talking point during the Federal Open Market Committee's upcoming September session.
In response to rising prices, the U.S. central bank has raised interest rates to deter borrowing. Such adjustments influence both the cryptocurrency and stock sectors.
When interest rates climb, investors often turn their focus to U.S. Treasury bonds and cash reserves, which tend to offer higher yields in such scenarios.
Beginning its anti-inflation efforts 18 months ago, the Federal Reserve embarked
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