After reaching a new all-time high of nearly $73,000 on Monday, Bitcoin’s value decreased by 0.7% on Tuesday. written by Casey Wagner 12 marca 2024 o 12:39. Blockworks modified a photo originally taken by Vit-Mar/Shutterstock. Both Bitcoin and ether experienced a small decrease in value on Tuesday afternoon in New York, while stocks recovered after initially dropping due to disappointing annual inflation figures. At the time this was written, the S&P 500 was up by around 1%, and the Nasdaq Composite, which focuses on technology, rose by 2.43%. Bitcoin, which reached a new all-time high of nearly $73,000 the day before, saw a decrease of 0.7% on Tuesday. At the time of publication, Ether (ETH) was trading down by 1%. Find out more: Ethereum expected to burn $10 billion worth of ETH over the next year. The recent market changes are attributed to the latest Consumer Price Index data from Tuesday, which indicated a 0.4% increase in inflation for February compared to a year ago, according to the Bureau of Labor Statistics. Analysts had anticipated a 3.1% year-over-year increase, and the monthly figure met those expectations. Despite being close to what was predicted, Tuesday’s report may suggest a delay in rate cuts from the Federal Reserve, which is set to announce its policy decision next week. Noelle Acheson, author of the Crypto is Macro Now newsletter, stated that the Fed may not justify a cut if inflation is rising, even slightly. The February CPI report was eagerly awaited as the January data, which showed a 3.1% annual increase, was influenced by annual contracts. Aurelie Barthere, principal research analyst at Nansen, believes that today’s CPI release will not have a significant impact on the crypto bull market or prices in the near future.