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Bitcoin rally stalls after hot US CPI report, Ethereum ETF hopes still fuel optimism
Bitcoin’s (BTC) rally above $50,000 reversed course in the morning hours on Tuesday as the release of the January Consumer Price Index (CPI) print, which came in at 0.3%, exceeding expectations, led to weakness across financial markets. As noted by The Kobeissi Letter, the January CPI print has all but erased expectations that the Federal Reserve would reduce interest rates in March. tweet According to the CME FedWatch Tool, the market only sees an 8.5% chance of a rate cut in March, while the odds of a rate cut in May have now fallen to less than 40%. Data provided by TradingView shows that Bitcoin’s reaction ... (full story)