India, March 13 -- A softer-than-expected inflation update from the U.S. Bureau of Labor Statistics for the month of February failed to boost crypto market sentiment meaningfully. Latest data revealed a larger than expected decline in both consumer price inflation and producer price inflation. While Bitcoin rose to $84.4k and overall crypto market capitalization touched $2.72 trillion, it has since reverted to the levels prevailing prior to the data release.
Data released on Wednesday morning had showed headline annual inflation edging down to 2.8 percent in February from 3 percent in January and surpassing market expectations of a decline to 2.9 percent. The core component thereof which was seen declining to 3.2 percent from 3.3 percent i...