USA announced the inflation data that the markets have been eagerly waiting for. Accordingly, annual CPI in February rose to 7.9%, in line with expectations. The data, which marks the highest level in the last 40 years and an increase of 0.8% compared to the previous month, shows that inflation in the USA continues to climb.
As it is known, the Fed is expected to increase interest rates next week. Expectations show that the central bank will raise rates by at least 25 basis points. The fact that the inflation data came in line with expectations may have strengthened the possibility of a 25 basis point rate hike. Fed Chairman Powell said last week that the Fed is ready to raise interest rates further if the February CPI is high.
Bitcoin Reacts
After the data, Bitcoin touched $ 40,000 with the relative relief of a data in line with expectations. However, this did not last long and BTC experienced a rapid pullback to the level of $ 38,500 with the reaction it received from here. After recovering, Bitcoin is trading at $ 38,900 at the time of publication.
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