{"id":15083,"date":"2021-12-10T15:38:31","date_gmt":"2021-12-10T14:38:31","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=15083"},"modified":"2021-12-10T15:38:37","modified_gmt":"2021-12-10T14:38:37","slug":"btc-surpasses-50000-cpi-data-shows-the-inflation-in-40","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/btc-surpasses-50000-cpi-data-shows-the-inflation-in-40\/","title":{"rendered":"BTC surpasses $50,000 as US CPI data shows the biggest inflation in nearly four decades"},"content":{"rendered":"\n
Bitcoin (BTC) jumped over $1,000 in seconds on December 10 after the US Consumer Price Index (CPI) data revealed that inflation in November <\/a>was higher than expected<\/h5>\n\n\n\n
\"BTC
BTC surpasses $50,000 as US CPI data shows the biggest inflation in nearly four decades<\/figcaption><\/figure>\n\n\n\n

The November CPI is in line with predictions<\/h2>\n\n\n\n

As of Friday, statistics from Cointelegraph Markets Pro\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and TradingView<\/use><\/svg><\/span><\/a> showed BTC\/USD trading at $50,132 on Bitstamp.<\/p>\n\n\n\n

The pair has already reached its highest level in over 24 hours one hour before Wall Street opened.<\/p>\n\n\n\n

CPI had been eagerly<\/use><\/svg><\/span><\/a> anticipated by both crypto and traditional finance professionals, with forecasts predicting at least a 6.7 percent year-on-year increase in November, if not more than 7 percent. In the end, the figures generally conformed to cautious predictions, hitting 6.8 percent.<\/p>\n\n\n\n

CPI below expectations

Bullish

all markes popping\u2014 Alex Kr\u00fcger (@krugermacro)\u00a0December 10, 2021<\/use><\/svg><\/span><\/a><\/p><\/blockquote>\n\n\n\n

Bitcoin Still restricted to a specific range<\/h2>\n\n\n\n

Bitcoin's short-term gains did not last long, with BTC\/USD already trading below $50,000 at the time of writing.<\/p>\n\n\n\n

Analysts earlier believed that the largest cryptocurrency remained locked in a range with no clear upside bias, requiring a break over $53,600 to change.<\/p>\n\n\n\n

Yes, there's been a decent amount of volatility for\u00a0#BTC<\/use><\/svg><\/span><\/a>\u00a0recently

In fact,\u00a0$BTC<\/use><\/svg><\/span><\/a>\u00a0has been threatening to lose this red support throughout the week but failing to confirm a breakdown

BTC has returned above red yet again

Still holding here until further notice#Crypto<\/use><\/svg><\/span><\/a>\u00a0#Bitcoin<\/use><\/svg><\/span><\/a>\u00a0pic.twitter.com\/739hdAooiI<\/use><\/svg><\/span><\/a>\u2014 Rekt Capital (@rektcapital)\u00a0December 10, 2021<\/use><\/svg><\/span><\/a><\/p><\/blockquote>\n\n\n\n

The CPI event had no effect on altcoins, with Ether (ETH) still down 1.3 percent in the last 24 hours.<\/p>\n\n\n\n

Only Terra (LUNA) out of the top ten cryptocurrencies by market capitalization managed<\/use><\/svg><\/span><\/a> to make a slight gain on the day.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) jumped over $1,000 in seconds on December 10 after the US Consumer Price Index (CPI) data revealed that inflation in November was higher than expected The November CPI is in line with predictions As of Friday, statistics from Cointelegraph Markets Pro and TradingView showed BTC\/USD trading at $50,132 on Bitstamp. The pair has […]<\/p>\n","protected":false},"author":29,"featured_media":14816,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[5371,5952],"class_list":["post-15083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin-2","tag-cpi"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/Asian-stock-market-sell-off-on-Monday-adds-to-the-volatility-of-Bitcoin-and-cryptocurrency.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=15083"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15083\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14816"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=15083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=15083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=15083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}