Bitcoin, the leading cryptocurrency, has surpassed the $120,000 mark for the first time, showing significant growth. However, the price fell to $117,000 due to profit-taking.
Bitcoin's Historic High
The price of Bitcoin recently set a record, reaching $123,000, but subsequently fell to $117,000. Analysts believe this correction is normal and expect further growth.
US Inflation Data
Today, key inflation data was released, which is significant for the Federal Reserve's interest rate decisions. Key figures include:
- Annual Consumer Price Index: 2.7% (expected 2.6%, previous 2.4%) - Monthly Consumer Price Index: 0.3% (expected 0.3%, previous 0.1%) - Annual Core Consumer Price Index: 2.9% (expected 3.0%, previous 2.8%) - Monthly Core Consumer Price Index: 0.2% (expected 0.3%, previous 0.1%)
Bitcoin's Reaction to the Data
Bitcoin momentarily reacted to the new inflation data, but the exact market changes remain uncertain as traders continue to analyze the situation.
Bitcoin remains at the forefront amid historic highs and significant economic data that may influence its price.
