February’s Consumer Price Index (CPI) came in exactly as expected, offering no new catalyst for Federal Reserve rate cuts. However, fresh geopolitical pressures may complicate the picture going forward.
Bitcoin (BTC) slipped to $69,500 in the minutes after the release, a 1.2% decline over the prior 24 hours, as traders processed data that largely confirmed existing expectations.
Inflation Data Lands In Line With Expectations
The US Bureau of Labor Statistics reported that CPI climbed 0.3% month-over-month in February and 2.4% on an annual basis. Both figures matched consensus forecasts and held flat from January’s 2.4% reading.
Core CPI, which strips out food and energy prices, rose 0.2% for the month, down slightly from January’s 0.3% gain. On an annual basis, core inflation held at 2.5%, also in line with forecasts.
US stock index futures were modestly lower across the board following the release. The 10-year Treasury yield ticked up to 4.19%, reflecting measured market repricing rather than a sharp reaction. Meanwhile, Bitcoin and gold slipped following the report.
The report signals no surprises for the central bank, but markets will still monitor any Fed commentary for indications on interest rates or potential pauses in tightening.
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