Bitcoin Heads Toward New Local Highs As US CPI Brushes Off Gas-Price Surge
The post Bitcoin Heads Toward New Local Highs As US CPI Brushes Off Gas-Price Surge appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) tagged $73,000 following Friday’s Wall Street open as crucial US inflation numbers came in below expectations. Key points: Bitcoin edges higher as US CPI data remains slightly below market expectations. Gasoline prices see a historic surge within the CPI release. Bitcoin traders plan out key resistance levels overhead. BTC price seeks new local highs after CPI Data from TradingView showed BTC price eyeing new multi-week highs as markets digested the March print of the Consumer Price Index (CPI). BTC/USD one-hour chart. Source: Cointelegraph/TradingView This was the week’s key macro data release, and the first CPI report to reflect the impact of the US and Israel war in Iran. Gasoline prices jumped over 21% month-on-month, the Bureau of Labor Statistics (BLS) confirmed, but overall CPI finished 0.1% lower than markets’ expectations. “Over the last 12 months, the all items index increased 3.3 percent before seasonal adjustment,” an official news release read. “The index for energy rose 10.9 percent in March, led by a 21.2-percent increase in the index for gasoline which accounted for nearly three quarters of the monthly all items increase.” US CPI 12-month % change. Source: BLS Reacting, trading resource The Kobeissi Letter noted that the gas-price CPI jump was the largest monthly gain since 1967. The energy increase, it added in a further post on X, was the largest since 2005. With the resulting mixed picture of inflationary forces, US stocks were mostly flat at the open, while BTC price action also avoided major moves up or down. Fed target rate probabilities (screenshot). Source: CME Group Markets, however, had no hope for the Federal Reserve cutting interest rates — a conclusion already in place on the back of Thursday’s Personal Consumption Expenditures (PCE) index release, per data from CME Group’s FedWatch Tool. Bitcoin traders draw the…
Filed under: News - @ April 11, 2026 3:25 am