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

CPI was forecasted at 6.0% year-over-year, while it has come in at 6.0%

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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.

Rate Probabilities: (Source: CME)
Rate Probabilities: (Source: CME)
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James Van Straten
James Van Straten
Former Lead Analyst 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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