Bitcoin Price Shoots Up Above $98.5K Following Release of US December CPI Data

The USA Labor Division introduced the highly-anticipated CPI and Core CPI information for December, which really matched the general expectations.

The costs of riskier belongings like cryptocurrency headed straight north regardless of the fears of upper inflation and no curiosity cuts by the US Federal Reserve this yr.

U.S. CPI: +2.9% YEAR-OVER-YEAR (EST. +2.9%)

U.S. CORE CPI: +3.2% YEAR-OVER-YEAR (EST. +3.3%)

— *Walter Bloomberg (@DeItaone) January 15, 2025

Because the put up above demonstrates, the Shopper Worth Index for December matched the two.9% enhance, which was the general expectation. The Core CPI, which excludes extra risky sectors like meals and vitality, is slightly below the estimations at 3.2%.

Though the rise for December was the most important in eight months and barely larger than that for November, cryptocurrency costs reacted with quick beneficial properties.

BTC stood at simply shy of $97,000 in preparation for the CPI numbers however shot up instantly to over $98,500 after the information broke out. That is the asset’s highest price ticket in simply over per week.

Furthermore, BTC is up by practically ten grand since its bottom on Monday at $89,200. Maybe the markets reacted prematurely to the upcoming inflation information, and buyers acted forward of the particular information.