The inflation figure, which came in at 2.4% matching market expectations, caused a brief fluctuation in the cryptocurrency market before prices quickly stabilized.
Before the announcement, Bitcoin was trading around $69,300 and moved to roughly $69,338 after the data release, while Ethereum (ETH) traded near $2,026. Altcoins generally showed limited price movements as well. According to CoinGecko data, Bitcoin was trading at approximately $69,348 at the time of writing.
Inflation had previously come in below expectations last month, while January’s data had matched forecasts. With today’s figure aligning with expectations, markets believe there has been no significant shift in expectations regarding the upcoming Federal Reserve interest rate decision.
The latest data suggests that the United States’ fight against inflation continues to progress in a controlled manner. This could slightly reduce uncertainty across global financial markets and the cryptocurrency market.
However, despite these expectations, markets will continue to closely monitor the Federal Reserve’s next policy moves.
