Risk Assets Like Bitcoin Are Defying Low Fed Rate Cut Expectations: Analyst

Risk assets such as bitcoin (BTC) are doing well, according to an analyst at Truflation, who commented after the cryptocurrency experienced moderate losses on Tuesday following the hotter-than-expected U.S. inflation report, which dampened hopes for a Federal Reserve rate cut.

The U.S. consumer price index report for January showed that prices increased for health and utilities, driven by the tight labor market, while food, alcoholic beverages, apparel, and household durables became cheaper due to consumers returning to their normal purchasing behavior after the holidays, according to a recent report from Truflation.