The Consumer Price Index (CPI) unexpectedly rose in January, exceeding forecasts and signaling persistent inflation. This triggered a sell-off in both traditional markets and cryptocurrencies, with Bitcoin falling sharply below $95,000. The report also led to a jump in the 10-year Treasury yield and a rise in the dollar index.
U.S. CPI came in faster than expected in January.Bitcoin moved sharply lower in the minutes following the Wednesday morning report.
The closely-watched Consumer Price Index rose 0.5% in January versus an expected 0.3% and December's 0.4% pace. On a year-over-year basis, CPI was higher by 3.0% against forecasts for 2.9% and 2.9% in December. Already trading in downward trend this week, the price of bitcoin fell sharply in the moments following the disappointing report, slumping below the $95,000 level.
INFLATION BITCOIN MARKETS CPI FEDERAL RESERVE
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