Crypto Market Sheds $60 Billion as Inflation Data Deals Blow to Fed Rate Cut Hopes

The cryptocurrency market has seen its total market capitalization drop by more than $60 billion shortly after hotter-than-expected inflation data in the United States poured cold water on hopes the Federal Reserve would cut interest rates in March. The core consumer price index (CPI) in the U.S., which leaves out food and energy prices, rose…