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MARKET: Bitcoin (BTC) reaches $73,000 after CPI surges to 3.3% Here’s why the market is rallying.
The March CPI rose 3.3% year over year, but gasoline alone, with a 21.2% increase in a single month, accounted for almost three quarters of that rise, while core inflation came in at 2.6%, below the 2.7% forecast.
The Federal Reserve kept interest rates between 3.50% and 3.75% in March, and the CME FedWatch report shows that 98% of traders expect them to remain unchanged at the FOMC meeting on April 28 29, rather than rise.