Bitcoin hits all-time high of $73,000 following release of US CPI data
Bitcoin reached a fresh record high, exceeding the $73,000 threshold, as investors largely disregarded slightly elevated U.S. inflation figures, believing they would not thwart anticipated interest rate reductions by mid-year, on Wednesday.
Over the past 24 hours, Bitcoin surged to an intraday high of $73,127, maintaining a 0.9% increase to $72,920 as of 12:57 pm IST.
Recent overnight data revealed that consumer prices in the United States experienced a robust 0.36% increase in February, surpassing the anticipated 0.3% upturn. This growth was primarily driven by elevated expenses for fuel and shelter. However, on an annual basis, the core Consumer Price Index (CPI) demonstrated a marginal deceleration, settling at 3.8%.
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Published: 13 Mar 2024, 03:08 PM IST
