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>>Bitcoin climbs back to $72,000 as March CPI surges to 3.3% driven by energy‑related inflation

Bitcoin climbs back to $72,000 as March CPI surges to 3.3% driven by energy‑related inflation

crypthub

1 day ago

Bitcoin Surges Amid Inflation Data

Bitcoin reclaimed over $72,000 on April 10 as traders processed March CPI figures. Headline inflation rose to 3.3% year‑over‑year and 0.9% month‑over‑month, driven by a 10.9% jump in the energy index and a 21.2% surge in gasoline prices. Core CPI increased modestly by 0.2% monthly and 2.6% annually, staying below forecasts. The modest core rise helped Bitcoin post a 1.8% daily gain and a roughly 5% weekly rise. Analysts see the data as a cue that the Federal Reserve may keep rates elevated longer.

Fed Outlook and Market Sentiment

Inflation remains above the Fed’s 2% target, prompting expectations of a prolonged high‑rate stance. CME FedWatch data and recent FOMC minutes indicate policymakers are wary of both price and labor‑market risks. Consequently, risk assets, including Bitcoin, displayed limited volatility despite higher price levels. The crypto market’s resilience contrasts with tighter reactions in traditional markets.

Geopolitical Tension Adds Uncertainty

Simultaneous U.S.–Iran cease‑fire talks in Pakistan added to market unease, with mixed signals and stalled negotiations. Shipping through the Strait of Hormuz stayed constrained, reinforcing energy‑price pressure that fed into the CPI increase. Crypto assets, however, maintained relative stability, with Bitcoin’s rebound reflecting that robustness.

Altcoins Track Bitcoin’s Move

Major altcoins posted modest gains; Ethereum rose about 2.5% to $2,219, XRP 1.3% to $1.3445, and Solana roughly 3%. Cardano and BNB moved within narrower bands, while Dogecoin advanced 1.8% and $TRUMP slipped over 3%. The mixed performance shows a selective risk appetite as Bitcoin holds the $72,000 level.