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Bitcoin’s price went up and down by several hundred dollars after the US Bureau of Labor Statistics released the Consumer Price Index numbers for February 2024.The general expectations for the core CPI forecasted a 0.3% increase compared to the previous month. In reality, the number was slightly exaggerated as the difference was just 0.1% . The previous month’s increase for the metric that excludes more volatile sectors like food and energy was 3.9%.
The total CPI for the month of February 2024 compared to February last year was at 3.2% – slightly higher than the 3.1% anticipated. Approximately a year ago, the US CPI announcements brought enhanced volatility to the crypto market. However, that hasn’t been the case for the past several months. The trend remains the same for now as well, with BTC going down by 0.5% before recovering all losses and returning to $72,000.One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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