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The leading cryptocurrency Bitcoin (BTC), after rising towards $73,000 following the ceasefire between the US and Iran, continues to remain above $70,000.
Although news reports have pulled oil prices back, the ongoing war, which has lasted for over a month, has driven oil prices up above $100. This indirectly increases inflation concerns, and 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 March 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 3.3% – Expected 3.4% – Previous 2.4%
Consumer Price Index Monthly: Announced 0.9% – Expectation 1.0% – Previous 0.3%
Core Consumer Price Index Annual: Announced 2.6% – Expected 2.7% – Previous 2.5%
Core Consumer Price Index Monthly: Announced 0.2% – Expectation 0.3% – Previous 0.2%
The consumer price index is a key variable used to measure consumer purchasing trends and changes in US inflation.
According to The Kobeissi Letter, CPI inflation reached its highest level since May 2024 amid the Iran-Iraq conflict. And Fed interest rate cuts for 2026 have been removed from pricing.
Bitcoin’s Initial Reaction After the CPI Data!
*This is not investment advice.
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