CPI - Bitcoin Drops As US Inflation Data Exceeds Forecasts | Benzinga
Bitcoin (CRYPTO: BTC) dropped by 4.4% on Wednesday morning following a higher-than-expected Consumer Price Index (CPI) report for March.
What Happened: The CPI for March rose 0.4% on a monthly basis, exceeding the projected 0.3% increase and February’s 0.4%. The year-over-year CPI was up 3.5%, compared to the anticipated 3.4% and February’s 3.2%.
The core CPI, which excludes food and energy expenses, also saw a 0.4% rise in March, against the predicted 0.3% and the previous month’s 0.4%. The year-over-year core CPI was up 3.8%, versus the expected 3.7% and February’s 3.8%.
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