PANews reported on February 12 that according to Golden Ten Analysis, after the US inflation data exceeded expectations, the US dollar and US Treasury yields rose, and Bitcoin fell to a one-week low. The year-on-year inflation rate in January rose 3.0%, and the month-on-month increase was 0.5%. According to LSEG data, Bitcoin fell 2.3% to a low of $94,121, compared to $96,517 before the data release. Higher inflation reduces the likelihood of the Federal Reserve cutting interest rates, putting pressure on risk assets including cryptocurrencies.
Analysis: Higher inflation reduces the likelihood of a Fed rate cut, weighing on risk assets like cryptocurrencies
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