Odaily News The CPI data released on Wednesday gave investors a sigh of relief, with the core CPI rising only 0.2% month-on-month in February, lower than the expected 0.3%. André Dragosch, head of European research at Bitwise, said the latest inflation cooling data could bring a favorable sentiment change for risk assets. The slowdown in US CPI inflation provides the Federal Reserve with more room to maneuver in cutting interest rates, which may be the reason why Bitcoin rose after the data was released.
BRN analyst Valentin Fournier echoed the sentiment: "Lower-than-expected inflation data strengthens the case for multiple rate cuts, as investors now price in an 82% chance of three rate cuts by December - a potentially significant liquidity boost for risk assets, including cryptocurrencies." (Theblock)