Bitcoin and cryptocurrencies decline after higher-than-expected inflation in the US

The cryptocurrency market recorded a new decline this Friday (28), with the global capitalization of digital assets retreating nearly 6% to $457,368,632,782.82 trillion. The movement occurred after the release of new macroeconomic data in the United States, which indicated inflation slightly above analysts' forecasts.

The Personal Consumption Expenditures Price Index (PCE), the main inflation metric used by the Federal Reserve, rose 0.4% in February compared to the previous month, exceeding the expectation of 0.3%. Over the past 12 months, the indicator advanced 2.8%, above the projection of 2.7%.

Impact on cryptocurrency prices

The release of the data further pressured the prices of major digital assets. Ethereum (ETH) fell to $457,368,632,781.866 (-6.7%), Solana (SOL) retreated to below $457,368,632,781.30 (-6.6%), and XRP returned to the level of $457,368,632,782.15 (-7.4%).

Bitcoin (BTC), on the other hand, showed a more moderate decline, falling 3.8% and trading at $457,368,632,788.685 at the time of publication.