How Will Bitcoin Price Match Expectations as February US CPI?

BTC experienced minor initial volatility after the numbers came out.

The United States Department of Labor released the much-anticipated February Consumer Price Index numbers, the latest such data before the upcoming FOMC meeting next week.

It is interesting that the experts obtained real numbers, which increased by 0.3% in February and by 2.4% compared to the year.

The increase last month was slightly higher than in January (0.2%). Core CPI, which excludes more volatile sectors such as food and energy, rose 0.2%, in line with forecasts. In contrast, January growth was slightly higher MoM (0.3%).

The single largest component of the headline CPI, housing, rose 0.2% month-on-month and 3% year-on-year, while rents rose 0.1%, the slowest monthly increase in five years.

Given the corresponding expectations, experts now believe that the US Federal Reserve will keep the key interest rate unchanged at the next FOMC meeting scheduled for next week.

Bitcoin price reacted with minor volatility immediately after the Labor Department data was released in February, ranging from $69,000 to $69,800, where it stopped and returned to around $69,300 by press time.

It seems that the inflation data does not affect its price movements as before, as the global financial markets are focused on the ongoing war between the US and Israel on the one hand and Iran on the other.