Breaking: Bitcoin Breaks Key Support As US CPI Comes in Hot At 3.5%

The U.S. Bureau of Labor Statistics released the highly anticipated Consumer Price Index (CPI) inflation data for March, which indicated that a hotter-than-expected result after the inflation print came in at 3.5%. That compares to analyst expectations of 3.4% and the previous month’s inflation number of 3.2%. The March inflation print held extreme importance for financial markets for assessing the trajectory of the Fed’s rate cuts.