Insights

Bitcoin hits $26.3k on expected CPI news, 25bps rate hike is expected

exchange68September 13, 2024

0 0 1 minute read

Quick Take

CPI slows as expected
YOY Core CPI was forecasted to come in at 5.5%. The result was 5.5%
CPI year over year was forecasted to come in at 6.0%. The result was 6.0%.
Core inflation accelerates month-over-month from +0.4% in January to +0.5% in February.
Bitcoin has smashed through $25,500
Barring any disaster, after the CPI news, a 90% probability for a 25bps rate hike for the upcoming FOMC on 22nd March.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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