Bitcoin tops $83,300 after soft US inflation data; BNB, Dogecoin surge over 5%
Bitcoin and major cryptocurrencies surged on Thursday after softer U.S. inflation data eased economic concerns.
U.S. consumer prices rose 0.2% in February, slowing from 0.5% in January. Excluding food and energy, core CPI also increased 0.2%, down from 0.4% the previous month. The data was closely watched amid softer economic indicators and the potential inflationary impact of Trump's tariff policies.
However, analysts noted that the cooling inflation components would not directly impact the Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures (PCE) price index. Producer price data due later on Thursday was also under scrutiny.
As of 10:44 AM IST, Bitcoin gained over 2% to $83,358, after hitting an intraday high of $84,358. Ethereum rose 0.2% to $1,874, while the global crypto market cap increased 2.1% to $2.69 trillion in the past 24 hours.
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View Details»Among altcoins, Solana gained 1.4%, XRP surged 3.4%, and Dogecoin jumped over 5%. BNB rallied 5.9%, boosted by investment firm MGX’s $2 billion commitment to
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