However, experts predict that the reaction will be short-lived, and the leading cryptocurrency will face further correction
In February, the annual inflation rate in the U.S. decreased to 2.8%, compared to 3% in January. Against this backdrop, Bitcoin experienced a short-term surge, surpassing $84,000 per coin, Money at Home reported on Wednesday, March 12.
Market expectations had projected inflation at 2.9%. On a monthly basis, consumer prices rose by 0.2%, compared to 0.5% in January.
Experts note that the cost of some goods from China decreased in the second month of the year. However, this trend may change in the coming months if these products become subject to planned tariffs.
Amid these developments, cryptocurrency specialists have urged caution in interpreting the current data, as U.S. President Donald Trump’s policies will impact inflation indicators. The direction of this influence will depend on whether the decline in service prices can offset the increase in the cost of goods.
Some analysts even believe that the expected maintenance of the key interest rate at its current level will continue the correction trend—potentially bringing Bitcoin down to $70,000 per coin.
Earlier, Money at Home reported that an Italian bank had made direct investments in Bitcoin for the first time.
