Major cryptocurrencies experienced a surge on Tuesday evening, in the backdrop of a hotter-than-anticipated U.S. inflation reading that dampened expectations for interest-rate cuts. What Happened: The largest cryptocurrency by market capitalization, Bitcoin, experienced a decline of about 1% to $49,500 from its earlier position slightly above $50,000 earlier in the day. In January, the consumer price index (CPI) increased by 0.3% from December, while on an annual basis, it rose by 3.1%. According to economists surveyed by Dow Jones, the anticipated CPI rise was 0.2% month over month and 2.9% f…
