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Bitcoin price drops $1.6K on hot CPI as markets price out Fed rate cut

February 13, 2024


Bitcoin saw snap losses into the Feb. 13 Wall Street open as United States inflation data dealt a blow to risk assets.

Fed March rate cut “likely gone” after hot CPI

Data from Cointelegraph Markets Pro and TradingView followed a 3.8% BTC price decline on the day, bottoming at $48,435 on Bitstamp.

Bitcoin reacted badly to the January Consumer Price Index (CPI) print, which exceeded expectations.

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