BREAKING! US Inflation Data Released! What Was Bitcoin’s (BTC) Initial Reaction?

The leading cryptocurrency, Bitcoin (BTC), is struggling around $70,000 amid the uncertainty and tension created by the US-Iran conflict.

The war between the two countries has driven up oil prices, indirectly increasing inflation concerns. Analysts worry that inflation, which the US Federal Reserve (FED) has long been trying to bring down to its 2 percent target, may come under renewed upward pressure with this increase in energy prices.

While there is talk that the Fed might even raise interest rates in the face of inflation risk, the US February inflation data, which the Fed closely monitors when making its interest rate decisions, has been released.

Here are the US inflation figures that have been released:

Consumer Price Index Annual: Announced 2.4% – Expected 2.4% – Previous 2.4%

Consumer Price Index Monthly: Announced 0.3% – Expectation 0.3% – Previous 0.2%

Core Consumer Price Index Annual: Announced 2.5% – Expected 2.5% – Previous 2.5%

Core Consumer Price Index Monthly: Announced 0.2% – Expected 0.2% – Previous 0.3%

The consumer price index is a key variable used to measure consumer purchasing trends and changes in US inflation.

Bitcoin’s Initial Reaction After the CPI Data!

*This is not investment advice.