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Bitcoin jumps past $50K as US CPI data shows highest inflation in nearly 40 years
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Bitcoin (BTC) surged over $1,000 in seconds on Dec. 10 as the United States Consumer Price Index (CPI) data showed inflation in November was worse than anticipated.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD running to $50,132 on Bitstamp as the data became public Friday.
An hour before the Wall Street open, the pair had already hit its highest level in over 24 hours.
CPI had been hotly awaited by both crypto and traditional finance analysts alike, with opinions favoring at least a 6.7% year-on-year increase for November, and even over 7%. In the event, the numbers broadly conformed to conservative guesses, reaching 6.8%.
CPI below expectationsBullishall markes popping
The results nonetheless mean that inflation on CPI
Read more on cointelegraph.comAbout this in other media
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