Home Finance Crypto news Bitcoin (BTC) Price Drops 2% on Hotter-Than-Expected CPI Inflation Reading

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

0
Bitcoin (BTC) Price Drops 2% on Hotter-Than-Expected CPI Inflation Reading

[ad_1]

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

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here