The Consumer Price Index for December clocked in at 7%. Bitcoin surged to $44K in response.
The BTC price is rallying today, following quite a few days in the red. At the time of this writing, bitcoin sits at $44K, up 6% in the past 24 hours.
Bitcoin is down 3.9% in the past seven days, but today alone, the cryptocurrency is doing its best to erase the recent losses.Source: TradingViewJust a few hours ago, the US Bureau of Labor Statistics released the inflation numbers for the past month. The Consumer Price Index , which is a measure of the average change over time in the prices that are paid by consumers for a basket of consumer goods and services, clocked in at 7%, up 0.2% from November.
Interestingly enough, this number is up 5.5% in the past year alone, and it’s currently sitting at its highest point in decades.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price DataThe impact of the federalreserve's December meeting has sent the correlation between bitcoin and traditional assets to its highest in more than a year. Chart of the Day explains on 'All About Bitcoin,' presented by cryptocom:
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data🔨 CoinDeskBeta update: Meet brand new videos-on-demand page. Plus, we've made huge improvements to our website stability. We always welcome feedback at feedbackcoindesk.com.
Read more »
Bitcoin price surges to $43K, but traders warn that ‘real pain’ is due for altcoinsEven with the abrupt surge to $42.3K, traders warn that Bitcoin and altcoins are still in for ‘real pain’ if the current macro perspectives remain the same.
Read more »
Bitcoin price bounces to $41.5K, but derivatives data shows traders lack confidenceKey BTC trading metrics are sitting on the edge of the “worst outcome” scenario, suggesting that the current sell-off is far from over.
Read more »
Bitcoin's Hashrate Slides 15% in 10 Days, Price and Difficulty Puts Pressure on BTC Miners – Mining Bitcoin NewsBitcoin’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15% in ten days.
Read more »
Gold Price Forecast: Gold picks up momentum on dollar’s weaknessSpot gold trades around $1,816 a troy ounce, it's highest for this week. The greenback came under selling pressure following comments from US Federal
Read more »