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heystopinthenameoflaw
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heystopinthenameoflaw
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Bitcoin reclaims $100K following release of US CPI data for November 12/11/2024 18:45:21 GMT $BTC $ Bitcoin reclaims $100K following release of US CPI data for November Bitcoin reclaimed the $100K level as US November's inflation data aligned with expectations. Market participants expect the Fed to cut rates by 25bps due to the steady inflation figures. The general crypto market also saw an uptick of over 4%, with major altcoins like XRP, SOL and ADA leading the rally. Bitcoin (BTC) surged above $100K on Wednesday following the release of the US November Consumer Price Index (CPI) data, which came in line with expectations at 2.7%. Crypto investors quickly reacted to the report as market participants now anticipate that the Federal Reserve (Fed) will cut rates by 25 basis points (bps) next week. Bitcoin pushes past $100K as CPI data stirs crypto market rally US CPI data for November rose to 2.7% YoY from 2.6% in October, in-line with market expectations. Monthly CPI rose 0.3% in November, slightly higher than 0.2% in the previous month. Notably, core CPI stood at 3.3%, unchanged from the rise in October
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