Bitcoin spikes to $18,000 on better than expected CPI data

The price of Bitcoin jumped to $18,000 on news of better than expected consumer inflation data.

Samuel Wan
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Samuel Wan
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Bitcoin spikes to $18,000 on better than expected CPI data

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The release of November’s Consumer Price Index (CPI) data showed inflation at 7.1% year-on-year (YoY). This came in better than the estimated 7.3% figure.

Bitcoin spiked 2.6% on the news and was trading just short of $18,000, as of press time.

Bitcoin 5 minute chart
Source: BTCUSDT on TradingView.com
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Samuel Wan
Samuel Wan
Analyst CryptoSlate

Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.

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