$BTC

In February, the US Consumer Price Index (CPI) moderated, rising by 0.2 percent after a larger increase of 0.5 percent in January. Over the 12 months leading up to February, consumer prices rose 2.8 percent, down from 3 percent in January. However, inflation still remains above the US Federal Reserve's target of 2 percent.

Following the CPI data release, cryptocurrency prices responded positively, with Bitcoin climbing nearly 2 percent to approximately $83,510. This surge came after a steep drop earlier in the week, triggered by US President Donald Trump's executive order to create a crypto strategic reserve, which failed to meet investor expectations. The recent gains offered some relief to crypto traders, who had seen a 15 percent loss over the past month as the initial excitement over Trump's election began to fade.