Live updates: Soft core inflation gave crypto a bounce, but only bitcoin held up on the week
Bitcoin remains resilient despite broader market volatility following inflation data, while other major tokens have seen significant declines. Investors are closely watching the Federal Reserve's upcoming meeting and the highly anticipated SpaceX public offering.
Why it matters
The market's reaction to inflation data and the upcoming SpaceX IPO provides insight into investor sentiment regarding interest rates and high-growth tech assets.
Headline inflation rose 0.5% on the month and 4.2% over the year, the fastest annual pace since April 2023, but energy did most of the work, climbing 3.9% on the month and accounting for more than 60% of the increase as oil rose on the Iran conflict.
The article provides a market analysis based on financial data and expert expectations.
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