Bitcoin Nears $92K Breakout Amid Record Stocks, Cool CPI Data

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Bitcoin sought new weekly highs as US CPI numbers came in below expectations and President Donald Trump called for more interest-rate cuts.

Bitcoin eyed one-week highs at Tuesday’s Wall Street open as markets surged on low US inflation data.

Bitcoin approaches $93,000 and a “huge” resistance wall on the back of positive US inflation trends.

The S&P 500 beats records despite the ongoing spat between US President Donald Trump and Federal Reserve Chair Jerome Powell.

A trader calls time on the low-timeframe Bitcoin trading range.

Bitcoin gets US inflation boost as S&P 500 surges

CPI matched 2.7% predictions, while core CPI came in at 2.6%, 0.1% below the anticipated level, the Bureau of Labor Statistics (BLS) confirmed. 

“The all items index rose 2.7 percent for the 12 months ending December, the same increase as over the 12 months ending November,” it wrote in an official statement.


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The price rebound has also increased interest among future traders betting on Bitcoin’s near-term price movements.

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