Bitcoin (BTC), the leading cryptocurrency, surpassed $120,000 for the first time in its history yesterday. While the price recently broke a record by exceeding $123,000, it fell to $117,000 due to increased profit-taking.
While it was stated that this correction was normal and the rise would continue, critical inflation data that the FED attaches importance to in its interest rate decision was announced today.
Here is the data disclosed:
Consumer Price Index Annual: Announced 2.7% – Expected 2.6% – Previous 2.4%
Consumer Price Index Monthly: Announced 0.3% – Expected 0.3% – Previous 0.1%
Core Consumer Price Index Annual: Announced 2.9% – Expected 3.0% – Previous 2.8%
Core Consumer Price Index Monthly: Announced 0.2%–Expected 0.3%–Previous 0.1%
The consumer price index (CPI) is a key variable used to measure consumer purchasing trends and changes in US inflation. According to The Kobeissi Letter, US Consumer Price Index (CPI) inflation has increased for the first two months since January 2025. The Fed also indicated that it would hold off on interest rate cuts for a while longer.
Bitcoin’s First Reaction After CPI Data!
*This is not investment advice.
