Key Points

• BTC currently trades above $82,000 after surging above $83,000 earlier.
• Today an important CPI report will be published in the US, potentially affecting BTC price.

Bitcoin’s price holds above $82,000 after earlier volatility ahead of an important CPI report in the US. The inflation data could affect BTC’s price and could decide on potential upcoming interest rate cuts in the US.

Bitcoin Surged Above $83,000

At the moment of writing this article, BTC is trading above $82,000, up by over 1% in the past 24 hours.

BTC recorded volatility earlier today, with prices dipping to $79,000 levels ahead of a rebound above $83,000 earlier before stabilizing at current levels.

Today is an important day for BTC as the US CPI report is set to be released in the US, potentially affecting the digital asset’s trajectory and the overall crypto market.

US CPI Report is Released Today

CNBC notes that there are high concerns that the US President, Donald Trump’s tariffs policies will aggravate inflation, but today’s CPI report could deliver “mildly encouraging news.”

According to the publication, the CPI data for February is predicted to show an increase of 0.3% for a wide array of goods and services across the US. Expectations hold both for the all-items measure and the core index that excludes energy and volatile food prices.

On an annual basis, this would put headline inflation at 2.9% and the core CPI at 3.2%, both numbers lower by 0.1% compared to January.

CNBC highlights two scenarios:

• The good news is that these rates would show a slowing pace in the inflation rate YoY.
• The bad news is that both numbers mentioned above are still above the Fed’s 2% inflation goal, which means that the central bank will not slash interest rates next week.

The next Fed meeting is scheduled to take place on March 19.

So far, historical data showed that cutting interest rates has triggered a price surge for BTC.

Crypto Market Maintains Optimism About Bitcoin’s Trajectory

However, Fed Chair Jerome Powell said that tariffs have not been inflation drivers historically, which means that the numbers could still come in lower, despite Trump’s tariffs policy.

Also, there are multiple reasons to remain optimistic about Bitcoin’s future price trajectory, regardless of today’s inflation data, especially since Trump’s BTC Reserve Executive Order could be on its way to becoming law after Senator Cynthia Lummis reintroduced the BITCOIN Act yesterday.