- On Wednesday, the Federal Reserve released the CPI figures for March.
- Following the CPI release, the crypto market experienced volatility.
- Bitcoin fell by 4% before rebounding to close the day with a 2.27% profit.
On Wednesday, the Federal Reserve released the CPI figures for March, and the numbers deviated from market anticipation. Following the CPI release, the crypto market experienced volatility, with several cryptos dropping to lower levels.
Bitcoin dropped about 4% shortly after the Fed released the inflation figures, with the price falling to $67,482. However, the flagship crypto rebounded after the pullback to close the trading day with a 2.27% profit and reclaim the $70,000 level, according to data from TradingView.
Notably, Bitcoin’s price showed a detachment from the overall expectations resulting from the CPI impact. It showed more strength than many top altcoins that succumbed to the pressure of inflation figures.
While Bitcoin rebounded, most cryptos lagged. Top altcoins like Solana (SOL), Bitcoin Cash (BCH), Polkadot (DOT), and Aptos (APT) declined by 5% to 7%. Decentralized excha…
The post Bitcoin Reclaims $70K After Initial Dip From US Inflation Figures appeared first on Coin Edition.