U.S. Inflation Surges 0.5% in January, Bitcoin Plummets Below $95K

U.S. inflation unexpectedly rose in January, with the Consumer Price Index (CPI) increasing by 0.5% against the expected 0.3%. This was higher than December’s 0.4% pace. On a year-over-year basis, CPI was up by 3.0%, surpassing forecasts of 2.9% and December’s 2.9%. The core CPI, excluding food and energy, also rose by 0.4% monthly and 3.3% year-over-year, both exceeding expectations. Following this report, Bitcoin’s price fell sharply, dropping below $95,000. The CoinDesk 20 Index dropped 2.9% in the past 24 hours. U.S. stock index futures declined by about 1%, the 10-year Treasury yield increased by 10 basis points to 4.63%, gold prices fell over 1%, and the dollar index rose by 0.5%. These statistics highlight the significant impact of inflation data on financial markets.

Source: www.coindesk.com