Bitcoin Soars To 25k
BTC rose to a nine-month $25,484 following the release of the February inflation report and reached $26,000 before falling back to the $25,500 range. Inflation fell to 0.4 percent from 0.5 percent in January, in line with analysts’ estimates. Investors expected the Fed to increase interest rates by 0.5 percent at its March meeting. However, the collapse of Silicon Valley Bank and Signature Bank over the past week eased those concerns. Analysts say that the instability in the banking sector is raising investor confidence in cryptocurrency.