In February 2024, the consumer price index (CPI) in the United States in annual terms made up 3.2%. Against the background of this, as well as the beginning of the trading session on the American stock market, Bitcoin reached a new all-time high.
In monthly terms, according to the US Department of Labor, inflation accelerated by 0.4%. Note that this is higher than the figure for January 2024. However, in December 2023 it was 3.4%.
Shortly after the publication of inflation data, the trading session began on the American stock market. Against this background, Bitcoin recorded a rapid jump, testing the $73,000 mark.
Then he rolled away. At the time of writing, the asset is trading around $72,000:
A rise in CPI reduces the chances of the Fed cutting interest rates. Let us remind you that the next meeting of the regulator will be held on March 20, 2024.
The current trend coincides with the forecast of BlackRock experts. In its report, the company said that CPI will remain above 3% throughout 2024.
Source: Cryptocurrency

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