Bitcoin strengthened slightly after the CPI release, but remained above $72,000.

Bitcoin prices rose slightly after the release of US March inflation data. Overall, the March CPI rose 0.9% month-on-month and 3.3% year-on-year, in line with expectations, mainly driven by a sharp rise in energy prices due to the situation in Iran. Prior to the data release, Bitcoin prices fluctuated narrowly around $72,000, and remained above that range afterward. Previously, influenced by the Middle East situation and soaring oil prices, market expectations for a Federal Reserve rate cut this year had cooled significantly, and the current consensus is that interest rates will remain unchanged in the short term. (CoinDesk)