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Bitcoin lower as US inflation rises to 3% annually, higher than analyst expectations.

It's Wednesday, February 12, 2025. I'm Christine Lee. This is CoinDest Daily.

We all want to believe in something. In Chinese, belief also means trust. We want to trust our systems

and each other so we can build a future beyond what we know. Join us at Consensus Hong Kong,

where belief becomes real. U.S. inflation unexpectedly marched higher in January, sending

crypto and traditional markets sharply lower. The closely watched Consumer Price Index rose half a percent in January, sending crypto and traditional markets sharply lower. The closely watched

consumer price index rose half a percent in January versus an expected three-tenths of a percent

and December's four-tenths of a percent pace. On a year-over-year basis, CPI was higher by 3 percent

against forecasts for 2.9 percent. Year-over-year core CPI, which excludes food and energy costs, was higher

by 3.3% versus 3.1 as expected. The price of Bitcoin fell sharply in the moments following

the disappointing report, slumping below the $95,000 level. Federal Reserve Chair Jerome Powell

will speak at a hearing in the U.S. House of

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