Crypto News: Bitcoin (BTC), the world’s largest digital asset price jumped by a whopping 18% over the past 24 hours to break the $26k price level. This spike comes after the February inflations look to cool down. However, the Inflation rate rose in February but line with expectations.
As per reports, the consumer price index surged by 0.4% for the month keeping the annual inflation rate at 6%. This provides key input into whether the Federal Reserve will continue to raise interest rates. However, the latest data came in exactly what Dow Jones estimated.
The core CPI rate surged by 0.5% for the month of February to stand at 5.5% on 12 monthly basis. Meanwhile, its monthly reading was recorded as slightly higher than the 0.4% expected to raise.
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The post Breaking: Bitcoin Jumps 17% Breaks $26K As US CPI Inflation Cools To 6% appeared first on CoinGape.
Source: https://coingape.com/crypto-news-bitcoin-breaks-25k-as-us-cpi-inflation-cools-to-6/