CryptoBitcoin Price Reacts as US CPI for March Comes...

Bitcoin Price Reacts as US CPI for March Comes Lower Than Expected

-


The highly anticipated US Consumer Price Index numbers for March are out, and they actually paint a brighter picture for the country’s inflation rates.

Although lower inflation is typically considered bullish for crypto, due to the possible reduction of the key interest rates by the Fed, BTC actually reacted with an immediate pump and dump to $81,500.

The regular CPI came at 2.4% year-over-year, which is slightly lower than expected. The Core CPI, which excludes volatile sectors like energy and food, is down to 2.8% (estimations pointed at 3%). These are the lowest numbers in roughly four years.

US President Donald Trump’s strategy has been predominantly focused on lowering the key interest rates, but the US Fed has kept them unchanged for the past two meetings, citing the growing concerns of rising inflation.

The numbers now indicated that there could be a notable shift in the States’ financial policy. Lower interest rates are generally bullish for riskier assets like crypto.

However, the immediate reaction of the digital asset market was slightly surprising. BTC, which had recovered over six grand since yesterday after Trump paused most tariffs for 90 days, went from $82,500 to $81,500 within minutes after the numbers came out.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Rippling is trying to serve Deel’s CEO, but bailiffs can’t find him

HR tech startup Rippling is trying to serve Deel CEO Alex Bouaziz with papers as part of a...

Mantra (OM) Crypto Downturn: What Holders Should Learn 

MANTRA, the Real-world backed token (OM), has sharply dropped by 95% within a few hours. The price dipped...

Advertisement

Anchorage Digital probed by top US AML task force, report

In 2022, the US banking watchdog put Anchorage on notice for failing to meet various anti-money laundering regulations. Source...

Some AI Talent ‘In Despair’ Reportedly About Google DeepMind’s Noncompete Rules

In the high-stakes race for AI dominance, Google’s DeepMind division is tightening its grip on talent, forcing some...

Must read

You might also likeRELATED
Recommended to you