The CPI numbers are in. As always, this caused a considerable uptick in market volatility, with the price of Bitcoin doing rounds.

At the time of this writing, BTC trades at above $25,000.

Source: TradingView

The Consumer Price Index is one of the most commonly-used metrics that investors use to gauge the levels of inflation in the United States.
It’s released monthly by the Bureau of Labor Statistics.
For January, the index for all times less food and energy increased by 0.4% and was up by 5.6% year-over-year.
The Consumer Price Index for all urban consumers, on the other hand, increased by 0.5% – seasonally adjusted, and a total of 6.4% for the past twelve months.
Now, the forecasted expectations were for a 0.4% increase and 6% year-over-year.
Per data from the Bureau of Labor Statistics, the CPI (YoY) currently sits at 6%, while the Core CPI is at 5.5% YoY.
Now, all eyes are turned to this month’s FOMC meeting of the Federal Reserve, where the Chairman will reveal if they will hike rates or succumb to institutional pressure and forego an increase to decrease the strain on the already suffering banking system.
The FOMC statement is expected on March 22nd.

The post Bitcoin Jumpst Above $25K as February CPI Clocks in at 6% YoY appeared first on CryptoPotato.

Read the full story: Read More“>

Blog powered by G6

Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.

For any inquiries, please contact [email protected]


Leave a Reply

Your email address will not be published. Required fields are marked *