The United States Consumer Price Index data shows that inflation hit 7% in December 2021, climbing 0.5% month over month. The price of Bitcoin reached nearly $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 2021.
Bitcoin (BTC) was volatile prior to the announcement, fluctuating by over $2,000 from lows of $41,000 to $43,000 on Wednesday. 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 Twitter poll, 53% of Coin Bureau’s 580,000 followers had expected the CPI to overshoot the consensus estimation of 7% inflation.
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