The United States Bureau of Labor Statistics published the numbers for the Consumer Price Index.
This is the most commonly-used metric to gauge inflation in the United States, and it clocked in at 7.1%.
- As it’s almost always the case, this caused massive turmoil in the cryptocurrency market, and most of the coins are going through serious volatility.
- At the time of this writing, Bitcoin’s price is trading around $17,800 on Binance.
- BTC surged to a high of $18,000.
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Source: https://cryptopotato.com/massive-bitcoin-volatility-as-us-inflation-cpi-clocks-in-at-7-1-for-november/