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Market: Bitcoin (BTC) reaches $73,000 after the Consumer Price Index rises to 3.3%. Here's why the market is rising.
The Consumer Price Index in March increased by 3.3% year-over-year, but gasoline alone, with a 21.2% increase in one month, accounted for nearly three-quarters of that rise, while core inflation came in at 2.6%, below the expected 2.7%.
The Federal Reserve kept interest rates between 3.50% and 3.75% in March, and the CME FedWatch report shows that 98% of traders expect rates to remain unchanged at the Federal Open Market Committee meeting on April 28-29, rather than rising.