Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it dropped $1,800 after January’s CPI print came in at 7.5%.
Despite being 0.2% higher than expected, surging inflation failed to have the positive impact on risk assets such as Bitcoin that characterized recent months.
Given the pace of year-on-year price increases, analysts argued, the Federal Reserve may now have more impetus to begin interest rate hikes sooner.
“The Consumer Price Index (CPI) results for the U.S.A. are coming in at 7.5% year-over-year, the expectations were 7.3% year-over-year. DXY is shooting up and risk-on assets are dropping down like Bitcoin & equities,” Cointelegraph contributor Michaël van de Poppe reacted.
