Bitcoin hits new 2023 high surpassing $26K due to CPI.

Bitcoin's price surged above $26,000 following the release of US Consumer Price Index (CPI) data, which showed mixed inflation signals and reduced the chances of the Federal Reserve tightening financial conditions. The data allowed the Fed to avoid being trapped between stickier inflation and avoiding interest rate hikes amid an ongoing banking crisis. However, the picture remained unclear as to where BTC/USD would head next due to the unpredictable nature of CPI sparking BTC price moves.