Inflation in the US in annual terms slowed down to 6% in February, which coincided with analysts' expectations. This will be reported on the website of the US government.
Core inflation (excluding food and energy prices) fell to 5.5% - the forecast was also at 5.5%.
Compared to the level of January, the CPI index rose by 0.4%, which coincided with market expectations. Core inflation rose 0.5% in February, higher than expected.
Economists polled by Reuters had expected the CPI to rise 0.4% from January 2023 and 6% from February 2022. Core inflation, which excludes food prices, was projected at 0.4% m/m and 5.5% y/y. Against the background of these data, the stock and crypto currency markets went up. Bitcoin managed to overcome the previous local maximum and reach a new one. Reaching $26,500. This is very good, because fixing above the 25,000 mark will provide an opportunity for further growth of Bitcoin and the entire cryptocurrency market. Regarding Ethereum, the chart shows that a lower pennant has formed. Also, the resistance level of this pattern was broken, which will allow it to grow further. In my opinion, in the near future, Ethereum will be able to overcome the $2000 mark and take a new top around $2400, which is marked on the fibonacci table.
Core inflation (excluding food and energy prices) fell to 5.5% - the forecast was also at 5.5%.
Compared to the level of January, the CPI index rose by 0.4%, which coincided with market expectations. Core inflation rose 0.5% in February, higher than expected.
Economists polled by Reuters had expected the CPI to rise 0.4% from January 2023 and 6% from February 2022. Core inflation, which excludes food prices, was projected at 0.4% m/m and 5.5% y/y. Against the background of these data, the stock and crypto currency markets went up. Bitcoin managed to overcome the previous local maximum and reach a new one. Reaching $26,500. This is very good, because fixing above the 25,000 mark will provide an opportunity for further growth of Bitcoin and the entire cryptocurrency market. Regarding Ethereum, the chart shows that a lower pennant has formed. Also, the resistance level of this pattern was broken, which will allow it to grow further. In my opinion, in the near future, Ethereum will be able to overcome the $2000 mark and take a new top around $2400, which is marked on the fibonacci table.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.