Bitcoin, crypto market holds steady following US-China trade agreement and lower inflation
- The US headline CPI inflation data for May rose to 2.4%, below expectations of 2.5%.
- President Donald Trump stated that the US and China have reached a trade deal with existing tariffs remaining unchanged.
- Bitcoin held steady at $109,000, but Ethereum and several altcoins saw positive movement following the announcements.
Bitcoin (BTC) and the cryptocurrency market remained steady on Wednesday as the US Consumer Price Index (CPI) data for May rose to 2.4%, below market expectations of 2.5%. The development follows President Donald Trump’s announcement of a trade agreement between the US and China, stating that he will work closely with President Xi Jinping to foster positive trade relations.
