Bitcoin, Ether Slips as UK Consumer Price Index Hits Highest Level Since 1992

Bitcoin fell below $27,000 during the Asian trading day, under performing major cryptocurrencies across the market as investors in broader equity markets reacted to weak UK inflation data.
Hotter than expected in the UK. The main consumer price index (CPI) came in at 6.8% - the highest reading since 1992 - versus an expected reading of 6.2%. This means that underlying inflation excluding food, energy, and tobacco rose 6.8% compared to 6% in the previous month. And 2% in March.
These amounts are higher than expected for the third straight month, daunting hopes of an economic recovery. This should therefore increase pressure on the Bank of England to raise interest rates further in the coming months.
Over the past 24 hours, bitcoin (BTC) is down 2% and is below the psychological resistance level of $27,000, erasing all week-to-date gains. Ether (ETH) traded at just above $1,800 while Solana (SOL) and BNB tokens posted nominal losses.