Bitcoin’s price showed immediate movement after the release of the latest Consumer Price Index data for March, which confirmed a notable rise in inflation during the first full month of the conflict between the United States and Iran.
Many analysts had anticipated a surge in inflation figures due to the impact of the ongoing war. The newly released data met those expectations, revealing a clear increase in overall price levels.
Before the announcement, Bitcoin had been trading at around 72,000 dollars. Following the release, the asset experienced short term fluctuations as the market reacted to the news.
For context, February’s inflation data aligned with forecasts, recording a 2.4 percent increase compared to the previous year and a 0.3 percent rise on a monthly basis. March’s figures, however, showed a stronger monthly increase of 0.9 percent, largely driven by a sharp rise in energy prices, particularly fuel.
At the same time, core inflation came in slightly below expectations. It rose by 2.6 percent instead of the 2.7 percent that many experts had predicted.
Despite the higher than expected inflation, Bitcoin has managed to remain above the 72,000 dollar level. This aligns with earlier remarks from Jerome Powell, who indicated that the Federal Reserve is unlikely to reduce interest rates in the coming months.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
