Bitcoin Hits $68,000 Again as U.S Inflation Numbers Come in Hot

Bitcoin Candle

Bitcoin jumped back within the $68,000 range following the release of U.S inflation data. Market participants eagerly anticipated the release, as positive inflation figures could have triggered a minor sell-off.

However, traders holding long positions eventually won the day as the Consumer Price Index (CPI) inflation increased by 6.2% in October over a year ago. Per the statistics from the U.S Bureau of Labor Statistics (BLS), inflation increased by 0.9% in Oct. alone, more than twice the 0.4% recorded in September and 0.3% in August.

(Source: Aurox)

Bitcoin is trading around $68,200 at the time of writing, with a market cap of nearly $1.3 trillion.

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