The post Market Ignores CPI Inflation Data as Scorching Crypto Rally Continues and Money Pours Into Presales appeared on BitcoinEthereumNews.com.

Cryptocurrencies boomed in recent weeks, especially $BTC which soared above $50,000 for the first time in 2 years, despite the release of a recent C.P.I.  (Consumer Price Index) that came in higher than expected, signaling a possible delay in rate cuts. This is a testament to the strength of the current bull market as investments pour into presale tokens, especially $GFOX, which is one of the most innovative tokens in the market. Bitcoin Surges Despite Dollar Strength as Investor Interest in Galaxy Fox Presale Hits New Highs On February 13, the U.S. Bureau of Labor Statistics released the Consumer Price Index (CPI) for January 2024, showing the rate at which prices rose in the country for that month. The CPI showed that prices rose by 3.1%, slightly lower than the rate as of December 2023 which was 3.4%. Despite January’s C.P.I. dropping slightly compared to December, according to experts, the rate was somewhat higher than the expected 2.9%.  In response to the released CPI, the value of the U.S. Dollar increased by 0.65%, while  the price of $BTC dropped by 1.32% from  $50,358.39  to $49,692.45 within 24 hours. Yet just two days later, price was back above $50K and rallying hard towards $60K, Amid this rally, investors are now flocking toward presale coins like Galaxy Fox, as the broader market shows strength and conditions are ideal for a token launch like $GFOX that has multiple use-cases and fits the current market narratives. For this reason, demand for the $GFOX is increasing, which is why it has already raised an incredible $3.6 million in token sales. $GFOX has progressed to stage 8 of its presale at $0.002178, delivering 10% returns for stage 7 investors. In days to come, it will go on another rally, taking its presale price to a higher…

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Filed under: News - @ February 18, 2024 12:12 pm