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Bitcoin Rises as US Inflation Reaches Its Highest Since 1982
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cryptonews.comThe bitcoin (BTC) price rose by about 2.5% in a matter of just 10 minutes today after US inflation numbers reached 6.8% from a year ago, marking the highest increase since 1982.
At 14:24 UTC, BTC stood at USD 49,575, up 0.9% for the past 24 hours and up 1.4% for the past hour, after initially moving above the USD 50,000 mark as the inflation reading came out.
Immediately following the release of the record-high inflation numbers, US S&P 500 stock index futures also reacted by trading higher, gaining about 0.5% in a matter of 10 minutes after the release.
At 6.8% year-over-year, the inflation figure came in slightly above a Dow Jones estimate of expectations of 6.7%.
Meanwhile, the so-called core consumer price index (Core CPI), which excludes
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