Bitcoin Slips as Inflation Data Dampens Rate Cut Hopes
Bitcoin took a breather from its multi-day rally as hotter-than-expected U.S. consumer price inflation drove market participants to push out their expectations for interest-rate cuts later in the year. With stubborn inflation indicating the Federal Reserve will be in no rush to start rate reductions, the first-ever cryptocurrency dipped 1.8% to $48.7K at 11:02 a.m. ET.
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