US Inflation Reaches 4-Month High as Bitcoin Bulls Retreat

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US CPI inflation climbed to 3.7%, the highest in four months, driven by a 9.1% jump in gasoline prices. This spike rattled Wall Street and pushed Bitcoin prices below $83,000 and $82,000. Simultaneously, bond yields targeted new 24-year highs. The rising inflation complicates the Federal Reserve's upcoming moves as markets react to the increased costs and the latest inflation report, causing Bitcoin bulls to retreat amidst the economic volatility.
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