Market analysts at 21Shares report that the latest consumer price index (CPI) rise was in line with expectations, suggesting current macroeconomic data has already factored in inflation.
Stephen Coltman, head of macro at 21Shares, noted that upcoming CPI figures will pressure the Federal Open Market Committee (FOMC) regarding interest rate policy. The key question is whether the Fed will overlook this temporary inflation surge or adopt a more hawkish stance as a precaution.
Despite these economic factors, crypto markets have shown resilience. The total crypto market capitalization, excluding Bitcoin and Ether, saw only a minor decline following the February CPI report.
Matt Mena, a crypto research strategist at 21Shares, forecasts Bitcoin to trade within a $68,000 to $74,000 range in the short term. He suggests a breakout above $75,000 could lead to a medium-term consolidation phase between $75,000 and $80,000. Historically, Bitcoin has shown strong rebounds following geopolitical shocks, potentially pushing its price to similar levels. A potential acceleration of this recovery could occur if the FOMC begins easing interest rates in 2026.