Emre Yumlu 
Bitcoin and cryptocurrency prices were focused on the US inflation data to be released today. What awaits the markets now that the data has been released?
What is the Expectation for US Inflation Data?
Expectations were for the annual inflation rate to be 2.9%, and the previous data was announced as 3.0%. If the data exceeds expectations, interest rate cut expectations may be postponed, and this may put pressure on risky assets, especially cryptocurrencies.
So How Much Was It Announced?
The US inflation data for February, which the markets were waiting for, was announced. Inflation in February was 2.8%, below expectations. Analysts’ estimates were for inflation to be around 3%. Monthly inflation increased by 0.2% in February. Monthly inflation was expected to increase by around 0.3%. In January, inflation increased above expectations at 3%.
Bitcoin, which was traded at $82,900 before the announcement, rose rapidly to $84,400 with the announcement of the data. The same upward movement was experienced in Ethereum (ETH). ETH, which was traded at $1,900 before the data, saw a sudden increase to $1,940 after the inflation data.
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