Bitcoin hits $26,000 on expected CPI news, 25bps rate hike is expected

Quick Take

• CPI slows as expected
• YOY Core CPI was forecasted to come in at 5.5%. The result was 5.5%
• CPI year over year was forecasted to come in at 6.0%. The result was 6.0%.
• Core inflation accelerates month-over-month from +0.4% in January to +0.5% in February.
• Bitcoin has smashed through $25,500
• Barring any disaster, after the CPI news, a 90% probability for a 25bps rate hike for the upcoming FOMC on 22nd March.

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