Home Cryptocurrency Bitcoin (BTC) Price Drops 2% on Higher-Than-Expected CPI Inflation Reading

Bitcoin (BTC) Price Drops 2% on Higher-Than-Expected CPI Inflation Reading

by SuperiorInvest

The drop came after January's Consumer Price Index (CPI) report showed year-on-year inflation of 3.1%, faster than analysts' forecast of 2.9%. Market participants now see just a 34% chance that the Federal Reserve will cut interest rates in May, down from 52% a day ago, according to the CME FedWatch tool.

Source Link

Related Posts