Core

Bitcoin

when

Reserve

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin price spiked above $89,000, as US inflation data is in line with economists’ expectations.</li> 
 <li>US Core CPI (YoY) is 3.3% for October, while the CPI (YoY) is 2.6%.</li> 
</ul> 
<p>Bitcoin’s price has just recorded a sharp spike above $89,000, as the US inflation data was revealed. The numbers are in line with economists’ expectations, showing increased numbers for October compared to September.</p> 
<h2 id="us-cpi-october-data">US CPI October Data</h2> 
<p>According to official <a href="https://ycharts.com/indicators/us_inflation_rate" rel="nofollow noopener" target="_blank">reports</a>, the US monthly CPI data was 0.2% for October, compared to 0.2% in September, in line with economists’ expectations. The yearly CPI was 2.6% for last month, compared to 2.4% in September.</p> 
<p>The yearly US Core CPI for October is 3.3%, compared to the same figure in September, also in line with economists’ expectations. The monthly Core CPI is 0.3% for October, compared to the same number in September.</p> 
<p>CPI data measures prices at the end user level, while Core CPI strips out food and energy prices.&nbsp;Today’s inflation data in the US triggered a sudden surge in Bitcoin’s price.</p> 
<h2 id="bitcoin-price-spikes-above-89-000">Bitcoin Price Spikes Above $89,000</h2> 
<p>At the moment of writing this article, BTC is trading at around $89,400, up by over 5% in the past 24 hours.</p> 
<p>Earlier, just when the US CPI data was released, BTC spiked above $89,700, nearing its previous ATH above $89,800. The price surge began from levels around $87,700.</p> 
<figure id="attachment_53099" aria-describedby="caption-attachment-53099" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872.jpeg"><img loading="lazy" decoding="async" class="wp-image-53099 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Price Spikes Above $89K, Following US CPI Data 42" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-13T155327.872-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-53099" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>Bitcoin’s price has been on an ascendant trajectory that debuted in full force on November 5, the US election day, and continued, propelled by market optimism after Trump’s victory.</p> 
<p>The crypto industry is expecting a friendlier regulatory framework in 2025 when changes will be implemented in Washington.</p> 
<h2 id="optimistic-bitcoin-predictions">Optimistic Bitcoin Predictions</h2> 
<p>Trump’s inauguration is set for January 20, and the most optimistic predicitons suggest that Bitcoin’s rally could continue this year, taking the coin’s price to $100,000.</p> 
<p>BTC’s rally has been also fueled by impressive inflows in BTC ETFs. The crypto products recorded close to $2 billion in inflows this week alone.</p> 
<p>BTC ETFs are nearing $28 billion in total flows since their January launch, and the total assets locked in BTC ETFs surpassed $94 billion, data from <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a> shows.</p> 
<p>However, the strongest price catalyst for BTC during the past few days has been <a href="https://crypto.ro/en/news/bitcoin-price-reached-a-new-ath-above-89k-as-the-industry-pushes-for-a-us-strategic-btc-reserve/">the prospect</a> of the US creating a Strategic Bitcoin Reserve in the first 100 days of Trump’s presidency.</p>

Bitcoin Price Spikes Above $89K, Following US CPI Data

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