Lower-Than-Expected US CPI Sparks Instant Bitcoin Price Reaction
Bitcoin’s price quickly jumped by over a grand after the US CPI numbers for November came out, and they painted a much better picture than expected.
As previously reported, the current week was expected to be highly volatile due to the release of key economic data in several countries. One of the most important was scheduled for today in the US – the Consumer Price Index figures for November.
Expectations were quite high. The regular CPI was anticipated to be at 3.1%, while the Core CPI, which excludes more volatile sectors like food and energy, was at 3%.
In reality, both of those figures for November were much lower – the regular CPI sits at 2.7%, while the Core is at 2.6%.
Given the fact that lower inflation should further open the door for the US Federal Reserve to cut the interest rates, and perhaps aim for Trump’s goal of 1% in 2026, BTC’s immediate price reaction was quite positive.
The asset, which traded at just over $87,000, surged by over a grand to $88,500, where it was stopped, at least for now.
BTCUSD Dec 18. Source: TradingView
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