Bitcoin (BTC) falls after "hot" U.S. inflation data, BlackRock's BTC ETF fund/s are now worth $10 Billion. BTC as a non-currency or asset, market cap worth is close to $1.7 Trillion. Its capitalized value is nearly as much as Amazon.

Bitcoin (BTC) tops out at 73000, after the hot and imbedded U.S. CPI report, at 3.2% vs 3.1%, on the back off rising shelter/rent, energy and food costs.  U.S. Dollar as you would expect caught bids, toppling BTC from its highs of 73340, as a flood of money went from BTC trades into the NASDAQ, Dow and S&P 500, sending the USD (futures) down from its high of 35.73.  In turn, stabilizing BTC.

Reasons for a muted sell off?  BTC is shy from hitting $1.5 Trillion in its marketed capitalization.  Blackrock, who is almost solely responsible for igniting this BTC rally after their BTC ETF fund swelled to $10billion.  However, this sudden rise in speculation will put the Federal Reserve on notice, that bubbles are breaking out all over the place on the back of, due to their, the Fed, lack of offering clear guidance to the market that they are on-top of inflation.  Thus, there is an assumption that the Fed, ironically is on-top of inflation, and will start cutting rates in 2024 due to deflation (?) and falling employment, however both have not materialized so far.

It is hard to define whether BTC is a company, asset/currency or beneficial product for the world, at least from an economic fundamental perspective.  In comparison to Google's 'Alphabet' whose market cap is at $1.7 Trillion, they have over 182,000 employees globally.  Amazon at $1.8 Trillion who have 1,541,000 people employed.  BTC's meteoric rise in value has little to do with the economy (It doesn't pay a wage), even if is is deemed a creative destructive product.  I am dubious that the Crypto/blockchain industry has reemployed Tens of Thousands after the Crypto crash of 2022.  

In 2022-2024 BlackRock employed globally 19,800 people.  And have been gradually reducing their workforce.

BTC's current trading range is 73000 and 71600.  Please refer to the above Chart: BTC futures with USD futures.