The Block20 minutes ago

Published on March 13, 2024 16:55 GMT+00:00edited on March 13, 2024 17:01 GMT+00:00

Bitcoin continued its upward trajectory on Wednesday despite major equities slipping following hotter-than-expected U.S. inflation data, which diminished prospects that the Federal Reserve might cut interest rates soon.

"We do not expect the U.S. Consumer Price Index (CPI) data to end the crypto bull market yet, nor to impact prices significantly in the coming weeks. There is too much bullish momentum in crypto at the moment," Nansen Principle Research Analyst Aurélie Barthere told The Block.

The bitcoin price increased 3% in the past 24 hours and was changing hands for $72,781 at 12:32 p.m. ET, according to The Block's Price Page.

However, major stock …