Bitcoin surges to fresh record high above $73,000 post US CPI data

Bitcoin hit a new all-time high on Wednesday, surpassing the $73,000 mark as investors mostly shrugged off slightly hotter-than-expected U.S. inflation, betting it won't derail interest rate cuts expected by the middle of the year.

In the last 24 hours, Bitcoin jumped to an intraday peak of $73,127. It was last 0.9% higher at $72,920 at 12:57 pm IST.

Overnight data showed U.S. consumer prices increased a solid 0.36% in February against expectations for a 0.3% rise, amid higher costs for fuel and shelter, though on an annual basis, core CPI slowed slightly to 3.8%.

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