"The consumer price index rose 2.7% year over year in December, unchanged from November and matching economists' estimates, according to the Bureau of Labor Statistics. On a month-over-month basis, headline inflation increased 0.3%, also in line with forecasts. Core CPI, which excludes food and energy, rose 2.6% from a year earlier, compared with expectations for 2.7% and a prior reading of 2.6%. Core inflation increased 0.2% month over month."
""The cooling core data, paired with the jobs data, seem to be inline with the fed's dual mandate and increase chances of further cuts this year even amidst the political noise surrounding the DOJ's investigation into Chair Powell," Mena wrote to Bitcoin Magazine."
""Bitcoin is increasingly behaving as a sophisticated macro hedge; in a world of weaponized energy and heightened geopolitical tensions, Bitcoin is being repriced as an international reserve that remains indifferent to sovereign border disputes.""
U.S. consumer prices rose 2.7% year-over-year in December, unchanged from November and matching economists' estimates, while headline inflation increased 0.3% month-over-month. Core CPI, excluding food and energy, rose 2.6% year-over-year and 0.2% month-over-month, slightly below some expectations. The CPI print strengthened the soft-landing narrative and raised the probability of further Federal Reserve rate cuts later in the year. Bitcoin spiked above $92,500 after the data, reaching about $92,800 at market open before retreating to around $92,300, trading up roughly 1–1.7% over 24 hours. U.S. equity futures moved modestly higher and the 10-year Treasury yield fell amid high odds that the Fed will keep rates unchanged at the next meeting.
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