Bitcoin, the most popular cryptocurrency, increased in price by 18% in the last 24 hours to surpass $26,000 just after the U.S. CPI report was published.
The report showed that U.S. inflation slowed to 6% in February from 6.4% in January. Shortly after the news, bitcoin rose to $26,429 to hit a 9-month high.
BTC hits 9-month high
According to the Bureau of Labor Statistics (BLS), February inflation growth in the United States decreased from 0.5% in January to 0.4%, as predicted by experts.
Per expectations, the annual inflation rate decreased from 6.4% in the previous month to 6.0% this month.
Source: https://crypto.news/bitcoin-tops-26k-following-us-inflation-print/