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Bitcoin Hits All-Time High on Record US Inflation Figures
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Bitcoin (BTC) hit yet another all-time high on Wednesday, as October’s inflation figures in the USA reached an annual rate of 6.3%, its highest level in 30 years.
At 15:22 UTC, bitcoin traded at USD 68,358, up 1% over the past 24 hours. The price is down from a peak of USD 69,044 (per Coingecko) reached right around 14:15 UTC, marking a new all-time high for the top-ranked cryptocurrency.
The latest price rise for bitcoin comes as the US Labor Department released new figures that showed the consumer-price index (CPI) in the country coming in at its highest level since 1990, and topping 5% for the 5th consecutive month.
Meanwhile, the so-called core price index, which excludes food and energy prices, came in at 4.6% compared to a year earlier,
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