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Bloomberg: Inflation data exceeds expectations, dampening interest rate cut expectations, Bitcoin briefly fell to around $65,600
According to Bloomberg, influenced by stronger-than-expected U.S. inflation data, market expectations for a short-term rate cut by the Federal Reserve have cooled, leading to a retreat in risk appetite. Bitcoin fluctuated downward on Friday night, briefly dropping to around $65,600, and has now rebounded to around the $66,000 mark.
This week's market has shown significant volatility, with prices rebounding to nearly $70,000 on Wednesday, marking the first time since February 16 that it approached that level, but then retracing most of the gains. Market participants pointed out that the persistence of inflation has weakened expectations for easing, putting overall pressure on risk assets, and the short-term sentiment in the crypto market has fluctuated with changes in macro expectations.
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