A Federal Reserve inflation gauge showed signs of easing, leading to reactions in financial markets, including cryptocurrencies. The February consumer price index was softer than expected, with a 0.2% increase from January and an annual inflation rate of 2.8%. This lower inflation and potential rate cuts historically boost risk assets like cryptocurrencies. The crypto market initially moved higher but had mixed price action following the release. Bitcoin rebounded 5%, while Ethereum was slightly down. Other cryptocurrencies like XRP, SOL, and ADA were up 3% in the last 24 hours. The market is pricing in three rate decreases this year. The producer price index and the Federal Reserve's March meeting will provide further insight into the US economy.



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