Bitcoin (BTC) Price Holds Firm Amid Global Market Slump, What’s Next?

On Tuesday, the price of Bitcoin ($BTC) experienced a modest decline following the release of January’s consumer price index (CPI) inflation data by the U.S. Bureau of Labor Statistics. The CPI figure of 3.1% exceeded street expectations, which anticipated a rate of 2.9%. Consequently, Wall Street witnessed a significant downturn, with the S&P 500 Index plunging by 1.4%. This marked the S&P 500’s weakest performance on a CPI release day since September 2022.