Inflation cooled more than expected in February, offering hope that the Federal Reserve may be closer to cutting interest rates. However, the crypto market remained largely unresponsive despite the positive economic signal

Wednesday’s Consumer Price Index report showed that inflation eased to 2.8% over the past 12 months, down from 3% in January and slightly beating the 2.9% forecasted by economists.

Perhaps surprisingly, crypto prices were unresponsive. Bitcoin Bitcoin btc 0.07% Bitcoin was trading at $82,770.45 late Wednesday afternoon, roughly flat over the past 24 hours. The total crypto market was valued at $2.68 trillion, down 0.25% over the past day #bitcoin $BTC