$BTC

🚨🚨US inflation data rocked the cryptocurrency market.

US inflation figures for January were released, revealing that annual inflation reached 3.1%, beating expectations of 2.9% and marking an increase from the previous period. Annual core inflation came in at 3.3%, also beating expectations of 3.1%. Monthly core inflation also exceeded expectations, reaching 0.4% instead of the expected 0.3%.

Following the release of these figures, Bitcoin and altcoins saw a sharp decline. Bitcoin, which was trading at $96,600, fell to $94,088. Ether, which was worth $2,665 before the announcement, fell to $2,558. Many altcoins have recorded double-digit losses in value.

These higher-than-expected inflation figures have led to a revision of estimates for the next interest rate cut by the US Federal Reserve (Fed). Markets are now anticipating that this cut could be delayed, instead of taking place in September as initially planned.

The impact of these data on inflation was not limited to cryptocurrencies. Financial markets also saw a decline, with S&P 500 futures contracts falling 1% in the first minutes after the announcement.

Against this backdrop, the former US president continues to put pressure on the Fed to cut interest rates. A few minutes before the inflation figures were released, he reiterated his call for a rate cut, suggesting that it could be combined with the imposition of tariffs.

Feel free to ask me any further questions.