Inflation Data Higher Than Expected Dampens Rate Cut Expectations, Bitcoin briefly fell to around $65,600

BlockBeats News, February 27th, according to Bloomberg, influenced by stronger-than-expected U.S. inflation data, the market's expectation of a near-term rate cut by the Federal Reserve cooled down, risk appetite declined, and Bitcoin oscillated downward on Friday night, falling to near $65,600 at one point, and has now rebounded to near the $66,000 level.

This week, the market has been significantly volatile. The price rebounded to nearly $70,000 on Wednesday, approaching this level for the first time since February 16th, but then retraced most of its gains. Market participants pointed out that increased inflation stickiness weakened loose expectations, and risk assets came under pressure overall, with the crypto market's short-term sentiment fluctuating with changes in macro expectations.