Best Crypto To Buy Now: 5 Top Picks As US CPI Inflation Rate Overshoots
The US CPI inflation rate came in hotter than expected in January, reinforcing concerns that price pressures remain stubborn in the economy and that interest rates may stay higher for longer. That sent stocks and cryptos lower as the chances of a rate cut diminished. The US CPI inflation rate rose 3% in January compared to a year earlier, and was up 0.5%, up from December’s 0.4% increase, according to data from the Bureau of Labor Statistics . The higher-than-expected CPI inflation rate will likely keep many investors away from risk-on assets such as cryptocurrencies, adding to the market’s woes. In the last week, the crypto market has traded relatively flat, with Bitcoin (BTC) unable to reclaim the $100K support and the majority of digital assets still in the red over the last week. Pro-Crypto Trump Administration Keeps Investor Hopes Alive Despite CPI Inflation Rate Overshoot Despite the stagnation in the crypto market, many digital asset investors remain optimi...