Bitcoin's price has dropped nearly 3% in the last 24 hours following news that inflation in February was higher than expected. The producer price index rose 0.6% last month, indicating that inflation is not going away anytime soon. As a result, stocks, particularly tech stocks, have also dropped. Investors are hoping that the Federal Reserve will cut interest rates by May, which could cause Bitcoin's price to continue to surge.
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Bitcoin Drops as Inflation Data Surges Higher Than Expected
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The final value of the US one-year inflation rate in November is expected to be 2.6%, the expected value is 2.7%, and the previous value is 2.60%
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