Bitcoin rises as inflation sinks šŸ“ˆ

The largest cryptocurrency by market capitalization spent most of the U.S. trading day in positive territory, albeit not by much.

Together with:

šŸ“ What you need to know

The U.S. Consumer Price Index for February dipped unexpectedly, buoying crypto investors at least initially as they sent Bitcoinā€™s price briefly above $84,000 for the first time since the weekend. BTC spent most of its day in positive territory, as did most other major coins.

The widely watched inflation measure dropped to 2.8% on an annual basis, better than the 2.9% that economists had predicted, as well as Januaryā€™s 3.3% markā€”which had reinforced recent fears that price increases would surpass the U.S. central bankā€™s target of 2%.

The Federal Reserve is unlikely to shift from its recent monetary hawkishness at its next meeting in five days, although the probability of three interest rate cuts during the summer has risen above 50%. Still, investors remain skittish about the economy amid a looming trade war, geopolitical tensions, and other macro unrest.

Meanwhile, Binance, the worldā€™s largest cryptocurrency exchange, announced that it had secured a $2 billion investment from the Abu Dhabi-based AI and tech investor MGXā€”a sovereign wealth fund. Binance framed it as the largest single investment ever made into a crypto firm.

From our partner

Flare Fair is your one-stop DeFi carnival: discover Flareā€™s ecosystem by completing tasks like bridging, lending, and staking and earn rewards from a 510M FLR pool, as well as FlareDrops. Interact with dApps, explore themed ā€œrides,ā€ and boost your earnings effortlessly. Doors to the Fair are open!

šŸ“Š MYRIAD Market of the Day

šŸ’¬ Quote of the Day

ā

ā€œNebraska is open for business in the cryptocurrency space. Those doing legal business in the State of Nebraska, you are absolutely welcome.ā€

From our partner

Wall Streetā€™s Trash Becomes Solanaā€™s Newest Treasureā€”$ROCKY Launches March 14

A new memecoin is on the prowl, turning leftovers into gold. $ROCKY, a no-presale, community-driven token, isnā€™t just another memeā€”itā€™s a movement. With no VC allocations or insider deals, itā€™s all about the community. Rockyā€™s friends launch in the coming monthsā€¦ will Rocky outsmart the system?

Get ready to scavenge at rockyraccooncoin.com

šŸŒ From Our Hub

šŸ“š Watch and Learn