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Bitcoin Spikes As US Inflation Drops Sharply
Bitcoin prices are on watch today after the futures market surged higher yesterday in response to weaker-than-forecast US inflation data. Annualised headline CPI came fell back to 3.5% last month, a sharp drop from the prior month’s 4.2% reading and below the 3.8% the market was looking for. Core CPI also fell by more than expected at 2.6% down from 2.9% prior, below the 2.8% forecast. Finally, the monthly figures were both sharply lower too with core at 0% from 0.2% prior and headline at -0.4% from 0.5% prior. The sharper-than-expected drop in inflation has weighed firmly on Fed rate hike expectations. Pricing for ... (full story)
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