Bitcoin shoots to $44,000 as US inflation hits 7.8% in December
The United States Consumer Price Index data shows that inflation hit 7% in December 2021, climbing 0.5% month over month. Bitcoin almost reached $44,000 upon the news. The latest figures from the United States Bureau of labor statistics show that the (Consumer Price Index) CPI hit 7% in December. Bitcoin (BTC) was volatile prior to the announcement, fluctuating over $2,000 from lows of $41,000 to $43,000 on Wednesday morning. Upon release of the figures, the price continued its upward climb, touching $44,000. Prior to the announcement, Twitter was rife with speculation. According to a poll....
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German Inflation Skyrockets Tapping Double-Digits in September
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With inflation in the U.S. hitting its highest mark since the 2008 financial crisis, Bitcoin is serving as a critical lifeline.
AVAX and ALGO both fell by nearly 10% on Friday, following the release of the latest inflation figures in the United States. Data showed that inflation is currently at 8.6%, which is close to a 40-year high. Both AVAX and ALGO moved close to one-week lows on the news.
Avalanche (AVAX)
AVAX moved close to a one-week low on Friday, as prices fell following the release of U.S. inflation data.
Following a high of $25.29 on Thursday, AVAX/USD slipped to a low of $22.78 earlier in today’s session.
This drop took prices close to their support level of....