Bitcoin Price Dumps to 9-Day Low on Higher-Than-Expected US CPI Data

Description

The United States Bureau of Labor Statistics released the highly-anticipated Consumer Price Index data for the first month of the year, indicating a year-over-year increase of 3%, which is higher than expectations. Somewhat expected, BTC’s price reacted with an immediate price drop that drove it south by around two grand within minutes. *US JAN. CONSUMER PRICES RISE 0.5% M/M; EST. +0.3% *US JAN. CONSUMER PRICES RISE 3% Y/Y; EST. +2.9% *US JAN. CORE CPI RISES 0.4% M/M; EST. +0.3% *US JAN. CORE CP...