The cryptocurrency market has barely reacted to the fresh macro statistics. At the time of writing, bitcoin is trading around $72,800, having added 1.8% over the last 24 hours.
Ethereum quotes are around $2230, up 1.8% over the past 24 hours.
Especially since the data was slightly below analysts’ forecasts. They expected growth up to 3.4% on the background of rising oil prices due to the conflict in the Middle East.
However, the military operation of the US and Israel against Iran affected the cost of energy, which rose by 10.9% in March. This was the maximum monthly jump since 2005.
The Core CPI, which excludes the cost of food and fuel, rose by 0.2% over the month against a forecast of 0.3% and February’s 0.2%.
In annual terms, core inflation amounted to 2.6%.
Geopolitical tensions forced investors to drastically revise their Fed Funds rate forecasts. At first, the market was laying one or more cuts, then – increases. Now participants expect the current range to be maintained in April and June.
