On March 12, Bitcoin (BTC) experienced a 2.3% decline in response to higher-than-expected US inflation data, triggering discussions on potential interest rate adjustments in 2024. BTC's value dipped to $68,636 on Bitstamp after peaking at $73,054, marking a notable fluctuation. The February Consumer Price Index (CPI) indicated a 0.4% rise, with the year-on-year rate reaching 3.2%. The question arises: will the Federal Reserve opt for rate cuts soon? Meanwhile, amidst the inflation concerns, BTC exchange-traded fund (ETF) inflows are on the rise, which may help counterbalance the impact of inflation-induced sell-offs.

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