According to ME News, on April 10 (UTC+8), following the release of U.S. March inflation data, Bitcoin prices slightly strengthened. Overall, the March CPI rose 0.9% month-over-month and 3.3% year-over-year, in line with expectations, primarily driven by a sharp increase in energy prices due to tensions in Iran. Prior to the data release, Bitcoin traded in a narrow range around $72,000; after the announcement, it remained above this level. Previously, market expectations for Fed rate cuts this year had significantly cooled due to Middle East tensions and soaring oil prices, and the current consensus is that rates will likely remain unchanged in the near term. (Source: ODAILY)
Bitcoin rises slightly after CPI release, remains above $72,000
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Summary
Bitcoin news showed the price edged higher on April 10 (UTC+8) following the release of U.S. March inflation data. The CPI rose 0.9% month-over-month and 3.3% year-over-year, in line with forecasts, driven by rising energy prices due to tensions in Iran. Prior to the data, Bitcoin analysis noted the price hovered near $72,000 and remained above it afterward. Market expectations for a Fed rate cut this year have weakened, with most now anticipating rates to remain steady in the short term.
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