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U.S. CPI Inflation Rises 0.1% in March, Slower Than Forecasts for 0.2%
The bitcoin price rose nearly 1.5% to $30,430 in the minutes following the better-than-expected news.
Updated May 9, 2023, 4:12 a.m. Published Apr 12, 2023, 12:40 p.m.
The U.S. Consumer Price Index (CPI) rose 0.1% in March, down from 0.4% a month previously, and slower than economist forecasts for 0.2%, according to the Bureau of Labor Statistics (BLS).
On a year-over-year basis, the CPI was higher by 5.0%, down from 6.0% in February and against expectations for 5.2%.
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The core CPI – which strips out often volatile food and energy prices – was up 0.4% in March versus 0.5% in February and in line with forecasts for 0.4%. On a year-over-year basis, core CPI was up 5.6% versus 5.5% in February and in line with forecasts for 5.6%.
The price of bitcoin (BTC) – which earlier this week topped $30,000 for the first time since June 2022 – rose nearly 1.5% to $30,430 in the immediate aftermath of the report.
Bitcoin's gains of late have at least part been influenced by ideas the U.S. Federal Reserve – perhaps as soon as its May 2-3 meeting – was set to end its year-plus string of interest rate hikes. Wednesday's softer-than-forecast inflation figures may give fuel to those dovish hopes.
Alongside gains for bitcoin, U.S. stock index futures have turned higher following the report, with the Nasdaq ahead 1.1% and S&P 500 up 0.9%. The price of gold is also advancing, up 1.1% to $2,042 per ounce.
Bond yields and the dollar are sliding, with the 10-year U.S. Treasury yield lower by 5 basis points to 3.38% and the U.S. dollar index down 0.6%.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Yang perlu diketahui:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
Yang perlu diketahui:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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