The drop happened after the January Consumer Price Index (CPI) report showed 3.1% year-on-year inflation, faster than analysts’ 2.9% forecast. Market participants now see only a 34% chance of the Federal Reserve cutting interest rates in May, down from 52% a day ago, according to the CME FedWatch Tool.

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• Source: https://www.coindesk.com/markets/2024/02/13/bitcoin-drops-2-on-hotter-than-expected-us-inflation/?utm_medium=referral&utm_source=rss&utm_campaign=headlines