BTC 50000
BTC bullish target1 48000
BINANCE:BTCUSDT
Bitcoin recovered some of its recent price drop, passing through $43,500, after Thursday's report of higher-than-estimated U.S. inflation sparked declines in bonds, equities and the crypto market. Major cryptocurrencies nevertheless remained lower Friday over 24 hours, with bitcoin down 2.8% and ether 4.5% at the time of publication.
U.S. inflation hit 7.5% in January, a 40-year high, with prices for goods and costs for services expected to pick up. Traders from Goldman Sachs forecast up to seven rate hikes this year. Rate increases are an attempt to rein in inflation , a direct result of the asset-buying program put in place by the U.S. Federal Reserve following the onset of the coronavirus in early 2020.
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