Bitcoin steadies below $99,000 as US inflation data meets expectations

exchange68December 11, 2024

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Bitcoin traded near $98,000 Wednesday after US November inflation data aligned with forecasts.

The annual inflation rate reached 2.7%, matching consensus up 0.1%, while core inflation held at 3.3%, according to Trading Economics data. Monthly figures recorded 0.3%, slightly above last month’s 0.2%, and the Consumer Price Index stood at 315.49.

US inflation data (Source: TradingEconomics)

Bitcoin has maintained levels above $90,000 since breaking $100,000 on Dec. 5, when it reached $103,800. It recently hovered below six figures after briefly touching $94,000 on Nov. 21 before rebounding. Bitcoin price appears largely unaffected by the new CPI data as of press time.

Analyst

Liam ‘Akiba’ Wright

Editor-in-Chief at CryptoSlate

Also known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

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