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Bitcoin hits $26,000 on expected CPI news, 25bps rate hike is expected

CoinSurges
By CoinSurges

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Quick Take

  • CPI slows as expected
  • YOY Core CPI was forecasted to come in at 5.5%. The result was 5.5%
  • CPI year over year was forecasted to come in at 6.0%. The result was 6.0%.
  • Core inflation accelerates month-over-month from +0.4% in January to +0.5% in February.
  • Bitcoin has smashed through $25,500
  • Barring any disaster, after the CPI news, a 90% probability for a 25bps rate hike for the upcoming FOMC on 22nd March.
BTC Price Chart
BTC Price Chart (Source: TradingView)
Rate Probabilities: (Source: CME)
Rate Probabilities: (Source: CME)

The post Bitcoin hits $26,000 on expected CPI news, 25bps rate hike is expected appeared first on CryptoSlate.

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