US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls

US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls

After the release of the October CPI data, bitcoin shot up by almost $3,000 to quickly hit a new all-time high of $68,950. But within a few hours, the move reversed completely, and prices fell as more traders shifted to focus on the logical consequence of faster inflation: monetary-policy tightening by the Federal Reserve that might crimp demand for riskier assets from stocks to cryptocurrencies.

Originally Posted on: https://www.coindesk.com/markets/2021/12/10/us-inflation-rate-surges-to-68-in-november-a-4-decade-high-bitcoin-jumps/
By: Lyllah Ledesma

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