Bitcoin’s Volatility on US Inflation Reports and Stacks’ STX 33% Explosion Bitcoin’s price went through some massive volatility on the report of February’s CPI numbers, but this failed to produce a directional change, and BTC remains at around $39K.
The past 24 hours were once again filled with considerable volatility, although it failed to result in any significant directional change for Bitcoin and the majority of altcoins. The market is pretty much where it was yesterday, but there were some notable events.Bitcoin’s price might have calmed down at around $39,000 – at the time of this writing – but this doesn’t mean that there was no volatility.
Yesterday – March 10th – the US Bureau of Labor Statistics released the numbers for the Consumer Price Index, and it clocked in at 7.9% – the highest in decades. The CPI is widely used to gauge inflation, although many claim that actual numbers are much higher. In any case, the report usually ends up causing serious volatility in the markets, and this time was no exception.
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