Bitcoin’s Rally Halts on Soaring Inflation Fears

Bitcoin’s Rally Above $50,000 Reverses as CPI Print Exceeds Expectations

Bitcoin’s rally above $50,000 took a downward turn on Tuesday morning after the release of the January Consumer Price Index (CPI) print. The CPI data came in at 0.3%, surpassing expectations and leading to weakness across financial markets. This unexpected level of inflation has dashed hopes of a rate cut by the Federal Reserve in March.