Bitcoin Rises Over 1.5% Following March CPI Data Release

The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) for March increased by 0.9% from the previous month and 3.3% compared to the same period last year, slightly below analyst expectations. According to NS3.AI, the energy index saw a significant rise of nearly 11%, driven by a 21.2% increase in gasoline prices. The CME Group's FedWatch tool indicated a 0% probability of an interest rate cut in April, with a 98.4% likelihood of rates remaining unchanged. In response to the CPI data release, Bitcoin's value increased by more than 1.5%, briefly reaching $73,000.