US announces January CPI, the market reacts positively
Inflation rose in January by 0.5% following a 0.1% increase in December. The CPI was up 6.4% from the same period in 2022. Both numbers were higher than expected.
The price of Bitcoin (BTC) increased by 1.77% following the news, trading at $22,100. Ethereum is up 3.25%. In the past 24 hours, the entire market capitalization has increased by 2.5%, reaching 1.03 trillion USD.