Bitcoin moved from $72,000 to $72,400 on April 10 after March’s headline CPI printed below expectations, giving crypto bulls a temporary respite from months of ongoing pressure.
Summary
- March’s core CPI rose just 0.2%, below the consensus forecast of 0.3%, while headline CPI rose 0.9% on war-driven oil prices.
- Bitcoin touched $72,400 within minutes of the 8:30 AM ET release before retreating near $72,000.
- The soft fundamentals print eased fears of a quick rate hike but did not change the Federal Reserve’s broader policy outlook.
Bitcoin (BTC) price update: BTC rose from around $72,000 to $72,400 on April 10 after the Bureau of Labor Statistics reported that March core CPI rose just 0.2%, coming in below the consensus forecast of 0.3%, according to CoinDesk. Headline CPI rose by 0.9% in the month, driven by around 10.9% in energy costs related to the ongoing conflict in the Middle East, which kept annual inflation at 3.3%. Core CPI came in at 2.6% year-on-year, slightly below economic forecasts of 2.7%.
The reading of the forecast below gave crypto traders a short reason to add exposure. Bitcoin surged in the minutes following the release, with FXLeaders noting that BTC “returned to $72,000 as fears fuel appetite for the digital deficit.” The move is moderate rather than explosive, reflecting a market that is still reeling from a sticky bullish trend versus a softer underlying trend. As crypto.news pointed out, the inflation print is “in line with expectations” at the headline level, reducing the fear of an even hotter surprise while confirming that price pressures remain high but stable.
The difference is important to traders. The soft core number reduces the likelihood of the Fed’s pivot towards tightening. But with annual headline CPI running at 3.3%, the highest reading since May 2025, the Fed has little political or economic room to move to cuts.
Fed Remains Cautious As Oil Keeps Headline Inflation High
The soft figure did not meaningfully change Federal Reserve rate expectations. With the Strait of Hormuz still mired in ongoing conflict, energy prices are still rising with the monthly CPI reading, complicating the Fed’s near-term calculations. Markets are currently pricing in almost zero rate cuts in the coming months.
As crypto.news tracked before the release, analysts had revealed a guiding framework: a cool print that could pave the way to $74,000 to $76,000, while a hot reading risks retesting the $68,000 support area. The original print came in, producing a modest rally that fell short of $73,000.
What Marketers Are Watching Next
Bitcoin remains pegged at R72,000, with $73,000 serving as the current ceiling. The level has reached all levels since the ceasefire was announced six weeks ago. Analysts widely agree that a sustained break above $75,000 is needed before the market enters a new real leg higher. Attention is now shifting to the weekend’s US-Iran talks in Islamabad and whether progress on a firm peace deal can remove the geopolitical overhang weighing on prices for all risk commodities.
