Recent research by CoinGecko has analyzed the impact of Consumer Price Index (CPI) announcements on Bitcoin prices. The study found that the correlation between CPI changes and Bitcoin's price is not straightforward, with fluctuations in both directions. This complexity is attributed to central banking policies, which have had a more pronounced effect on Bitcoin prices than CPI figures alone.

The Federal Reserve's interest rate hikes have influenced borrowing costs and speculative investments like Bitcoin. Additionally, Bitcoin's perception as a hedge against currency devaluation and its capped supply have contributed to its market dynamics.

Source: https://Blockchain.News/news/impact-cpi-announcements-bitcoin-btc-prices-analyzed