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Massive Bitcoin Volatility as US Inflation (CPI) Clocks in at 7.1% For November

The CPI numbers for November are in and this cause massive volatility on the crypto market.
George Georgiev
By George Georgiev

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_price_chart_131201
Source: Binance via TradingView

 

  • BTC surged to a high of $18,000.
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Tags:
Bitcoin (BTC) Price Bitwise Hyperliquid (HYPE) Real World Assets (RWA)
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About the author

George Georgiev
George Georgiev
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.