Bitcoin Can't Even Be Bothered: CPI Comes in Cooler Than Expected, BTC Just Yawns and Stays Above $70K

Bitcoin continues to hold firm above $70,000 after briefly touching $73,000 following the US-Iran ceasefire. Oil prices have climbed above $100 as the conflict stretches past a month, reviving inflation concerns and putting pressure on the Fed's 2% target. Some analysts are even whispering about the possibility of rate hikes.

The US March CPI data is now out. Here's the breakdown:

• Annual CPI: Announced 3.3% vs. Expected 3.4% (Previous 2.4%)
• Monthly CPI: Announced 0.9% vs. Expected 1.0% (Previous 0.3%)
• Annual Core CPI: Announced 2.6% vs. Expected 2.7% (Previous 2.5%)
• Monthly Core CPI: Announced 0.2% vs. Expected 0.3% (Previous 0.2%)

The numbers came in slightly below expectations—take that, inflation. According to The Kobeissi Letter, CPI inflation hit its highest level since May 2024 amid the Iran-Iraq conflict. As for Fed rate cuts in 2026? Completely unpriced.

Bitcoin's initial reaction? Essentially a shrug.

*This is not investment advice.