en.bitcoinsistemi.com
Bitcoin ($BTC) price has seen a strong surge in recent hours following the release of US inflation data that met expectations. The leading cryptocurrency briefly climbed above $93,000 after the announcement, gaining approximately 2% in the last 24 hours.
According to data from the U.S. Department of Labor, the consumer price index (CPI) rose 2.7% year-on-year in December. This rate was the same as in November and in line with market expectations. Core inflation, which excludes food and energy prices, was reported at 2.6% year-on-year. On a monthly basis, headline inflation increased by 0.3%, while core inflation rose by 0.2%.
Bitcoin, which was trading below $92,000 prior to the data release, surged rapidly to $93,500 after the announcement. During the same period, US stock futures rose by approximately 0.3%, while the 10-year US Treasury yield fell from 4.19% to 4.175%.
Market expectations are leaning towards the Fed keeping interest rates unchanged at its January meeting. According to CME FedWatch Tool data, investors are pricing in a 95% probability of the Fed not changing interest rates.
On the other hand, analyst il Capo of Crypto, commenting on the cryptocurrency markets, drew attention to Bitcoin’s upward momentum, stating, “$BTC appears ready to test the $95,000 level. Privacy-focused cryptocurrencies continue to outperform the market.”
*This is not investment advice.