Bitcoin Surges Past $111K Following CPI Report
- The U.S. Bureau of Labor Statistics released the consumer price index (CPI) data on Friday.
- The CPI report indicated a slower pace of inflation than economists had predicted.
- Bitcoin briefly climbed past $111,000 following the release of the CPI data.
The latest consumer price index report from the U.S. Bureau of Labor Statistics showed a cooling in inflation, which was less than what many economists expected. This economic data was released during an ongoing U.S. government shutdown, making it one of the few official reports available.
Following this report, Bitcoin surged past $111,000, highlighting its sensitivity to economic indicators like inflation rates. (Source)
