Bitcoin reached a $24,000 mark as support before the July 29 Wall Street open as fresh inflation data sparked worries for the euro.
The day’s macroeconomic data delivered painful news for the European Economic Area (EEA). The latest data estimates for euro inflation at 8.9% for July. It is higher from June’s 8.6%.
Looking at the main components of euro area inflation, energy is expected to have the highest inflation annual rate in July (39.7%, compared with 42.0% in June). Food, alcohol & tobacco are 9.8% in July, compared with 8.9% in June.
Non-energy industrial goods are 4.5% in July, compared with 4.3% in June. The services are 3.7% in July compared with 3.4% in June.