CandleFocus

Bitcoin and altcoins rose after the US CPI data: what next?

Author: Content Editor
Bitcoin and altcoins experienced a rebound following the release of mixed consumer inflation data in the US. Bitcoin reached $99,000 for the first time since January 7, triggering gains in altcoins such as Virtuals Protocol, ai16z, and Algorand. The rally also extended to other asset classes, with futures tied to the Dow Jones and S&P 500 rising, and bond yields falling. The US Bureau of Labor Statistics reported a decrease in core inflation from 0.3% in November to 0.2% in December. Despite the positive data, risks remain as inflation remains above the Federal Reserve's target of 2.0%. Bitcoin is expected to continue rising in the coming days, but a drop below this week's low of $89,000 would negate the bullish outlook.

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