Binance Coin is on its way to a full recovery, while Bitcoin touches $18K for the first time in over a month.
The past 24 hours were particularly eventful in the cryptocurrency markets as a storm of news hit from all fronts. In sum, the market reacted positively and topped $900 billion, while Bitcoin skyrocketed to $18K for the first time in more than a month.
First things first, Bitcoin’s price finally experienced some volatility after trading flat for more than 10 days. It peaked at exactly $18,000 (on Binance), as seen in the chart below.
The move came as the US Bureau of Labor Statistics published the numbers for the Consumer Price Index. The CPI is the most widely-used metric to gauge the levels of inflation in the country, and it came in at 7.1%, up 0.1% from October. While the number increased, it was still less than the expected 7.3%, which sent the markets upward.