Today news
About the same in other media
Bitcoin jumps past $50K as US CPI data shows highest inflation in nearly 40 years
Reading now: 813
Bitcoin (BTC) surged over $1,000 in seconds on Dec. 10 as the United States Consumer Price Index (CPI) data showed inflation in November was worse than anticipated.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD running to $50,132 on Bitstamp as the data became public Friday.
An hour before the Wall Street open, the pair had already hit its highest level in over 24 hours.
CPI had been hotly awaited by both crypto and traditional finance analysts alike, with opinions favoring at least a 6.7% year-on-year increase for November, and even over 7%. In the event, the numbers broadly conformed to conservative guesses, reaching 6.8%.
CPI below expectationsBullishall markes popping
The results nonetheless mean that inflation on CPI
Read more on cointelegraph.comAbout this in other media
Analyst lists 21 factors calling for Bitcoin price upside — But just 4 bearish signals cointelegraph.com /2 years ago
Bitcoin rallies above $49K following Fed FOMC announcement of rate hikes in 2022 cointelegraph.com /2 years ago
Bitcoin, Ethereum Jump as Federal Reserve Doubles Tapering, Signals Three 2022 Rate Hikes cryptonews.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
