BTC has risen by 3.28% in the last 24 hours and during the news writing process, making it one of the top-performing assets of the day.
The annual inflation rate in the US for February was reported at 2.8%, coming in below expectations. This led to a decline in the US dollar index and encouraged investors to shift towards Bitcoin and Ethereum. The lower inflation figure has strengthened expectations that the Federal Reserve may continue with interest rate cuts, with the upcoming March meeting being closely watched by the markets.
Following this development, Bitcoin’s price may have surged.
