Bitcoin rises to $18 000 after the US inflation report
Annual inflation was 7,1%, below investors’ expectations
13.12.2022 - 16:05
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Bitcoin and crypto prices soared following lower-than-expected U.S. inflation data for November. Crypto stocks bounced in line with U.S. stock futures.
Bitcoin was hurtling toward $18,000 shortly after U.S. CPI data was released today. The price of the leading cryptocurrency by market cap jumped by over $700 following the release at 8:30 a.m. EST. Bitcoin was trading at $17,890 at 8:40 a.m. today.
Ether rose 6% following the news, trading at about $1,327. Binance's BNB token was little changed on the information as withdrawal issues continue to hamper the token. Dogecoin and Ripple's XRP jumped over 4%, while Cardano's ADA tacked on 1.7%.
Interest rate traders are now pricing in an 81% chance of a 50 basis point increase by the FOMC tomorrow, according to the CME's FedWatch tool.
Coinbase soared 6.92% to trade at $45.52 by 8:45 a.m. in pre-market trading.
Jack Dorsey's Block rose 6.34% to trade above $70 for the first time since early November. MicroStrategy gained 5.17% to trade around $206.
Silvergate's gains were more modest, adding 1.2% to trade at $21.50.
This material is taken from the website theblock.co.
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Cryptocurrency rates
-
Bitcoin
$94 473
BTC
-3.46%
-
Ethereum
$3 432.76
ETH
+2.2%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.44
XRP
+3.46%
-
Dogecoin
$0.403992
DOGE
-4.23%
-
Cardano
$0.973483
ADA
-2.67%
-
Stellar XLM
$0.505728
XLM
-1.88%
-
Polkadot
$8.27
DOT
-4.55%
-
Bitcoin Cash
$499.65
BCH
-1.79%
-
Litecoin
$94.25
LTC
-2.19%