Bitcoin's Volatility Surges as Hot Inflation Data Triggers Market Correction

Despite the U.S. inflation report denting hopes for a Fed rate cut, risk assets like bitcoin have shown resilience, with prices briefly dipping before stabilizing around $49,500. Analysts believe that the market is still acting as if a rate cut is possible, despite low expectations, and predict that bitcoin may hit an all-time high this year. The prevailing sentiment suggests that higher interest rates may be here to stay, and the market has adjusted to this new reality.