US Inflation Rates Fall, Bitcoin and Ethereum on the Rise 

Ether Exceeds $3,000 After Struggling in Last 2 Weeks
  • The US inflation rate fell from 9.1% in June to 8.5% in July.
  • Both Bitcoin and Ethereum shot up in price during this time. 
  • Ethereum (ETH) continues to recover much faster than Bitcoin (BTC).

It seems cryptocurrencies are on the rise again. According to US CPI data, the reason could be in thanks to falling inflation rates. In particular, it looks like the US inflation rate fell from 9.1% in June to 8.5% in July. 

Indeed, this is great news for the world as a whole. After all, the second quarter of 2022 led to continuous increase in multiple goods. For instance, the price of fuel and certain other daily goods shot up significantly until recently. 

The data in the US CPR report reflects the sudden decline in inflation rates as compared to previous months. In turn, it looks like the financial sector is showing bullish signs. Specifically, the crypto sector is steadily heading towards a bullish recovery. 

In detail, both the pioneer cryptocurrency Bitcoin (BTC) and its close competitor Ethereum (ETH) are reaping the reward. To highlight, both the cryptocurrencies jumped in price during the period of the inflation rate drop. 

According to CoinGecko, the price of Bitcoin went from below $19,000 at the start of June 2022 to over $24,000 at the end of July 2022. Meanwhile, the price of Ethereum (ETH) went to a low of almost $900 in the month of June 2022. 

Presently, in the month of August 2022, both the cryptos are performing well. To specify, Ethereum (ETH) in particular, is having a great start to the month. In fact, in just the last 24 hours, the price of Ethereum shot up from below $1,700 to almost $1,850.     

Truly, Ethereum’s speedy recovery in price is a sight for sore eyes, especially due to the harsh crypto winter until a few weeks ago. In addition, Ethereum (ETH) is trending on Twitter and has the whole crypto community buzzing.

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.