Bitcoin Drops as Inflation Data Surges Higher Than Expected
Bitcoin's price has dropped nearly 3% in the last 24 hours following news that inflation in February was higher than expected. The producer price index rose 0.6% last month, indicating that inflation is not going away anytime soon. As a result, stocks, particularly tech stocks, have also dropped. Investors are hoping that the Federal Reserve will cut interest rates by May, which could cause Bitcoin's price to continue to surge.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Discover Enormous Potential in Cryptocurrency’s Next Big Wave
In Brief The crypto market is showing similarities to the Dot-Com bubble era. There is a bullish expectation for XRP and SEI with potential price increases. Institutional interest in crypto may support Bitcoin and altcoins' prices.
Trump Declares Broad Support for Cryptocurrencies
Animoca and Cream Labs Invest in TrendX Platform
JPMorgan Completes First Public Tokenized Bond Trade
Trending news
MoreCrypto prices
More
