The CPI figures are ready. As always, this caused a considerable increase in market volatility, with the price of Bitcoin spinning around.
At the time of writing, BTC is trading above $25,000.
Source: TradingView The Consumer Price Index is one of the most widely used metrics by investors to measure inflation levels in the United States. It is published monthly by the Bureau of Labor Statistics. For January, the all-time index less food and energy rose 0.4% and was up 5.6% year-over-year. The Consumer Price Index for all urban consumers, for its part, increased by 0.5% – seasonally adjusted – and a total of 6.4% in the last twelve months. Now, forecast expectations were for a 0.4% and 6% increase year-over-year. According to 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 on the Federal Reserve’s FOMC meeting this month, where the president will reveal whether they will raise rates or succumb to institutional pressure and forgo a hike to ease pressure on the already-suffering banking system. The FOMC statement is expected on March 22.
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This post Bitcoin Jumps Above $25K As February CPI Records 6% YoY
was published first on https://cryptopotato.com/bitcoin-jumps-above-25k-as-february-cpi-clocks-in-at-6-yoy/
