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crypto worldbitcoin touches $100,000 afresh as a allay inflation reading fuels danger appetitepublished wed, jan 15 202510: 22 am estupdated wed, jan 15 20254: 00 pm esttanaya macheel@tanayamacheelwatch live
in this article
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bitcoin extended its recoil on wednesday, imminent at $100,000 behind another auspicious inflation announce fueled investors' danger appetency.
the charge of the flagship cryptocurrency was abide higher by more than 3% at $99,493.26, bringing its 2-day achieve to 7%, according to counterfeit metrics. it rose as tall as $100,715.13 in recent afternoon trading.
the coindesk 20 index, which measures the broader market of cryptocurrencies, gained 7%.
shares of coinbase gained 7%. bitcoin proxies microstrategy and mara holdings gained 5% and 4%, respectively.
stock chart iconstock chart iconbitcoin approaches $100,000 behind wednesday's cpi data
wednesday's advance followed the acquit of the december consumer charge index, which showed centre inflation unexpectedly slowed in december. a day earlier, the market got another lucid inflation reading in the producer charge index, which showed wholesale prices rose less in december than expected.
the post-election crypto animate fizzled into the tip of 2024 behind federal appropriation chair jerome powell sounded an inflation admonition on dec. 18, and bitcoin suffered equable steeper losses abide week as a spike in association yields prompted investors to dump growth-oriented danger effects. this monday, bitcoin awhile dipped under $90,000.
the charge of bitcoin has been taking its diagnostic from the equities market in late weeks, thanks in behalf to the popularity of bitcoin etfs, which has led to the institutionalization of the asset. bitcoin's apposition with the s&p 500 has climbed in the departed week, while its apposition with gold has dropped sharply whereas the tip of december.
don't miss these cryptocurrency insights from hiTec News Agancy pro:
beware of a 'self-fulfilling' sell-off if bitcoin returns to $90,000, says flag charteredregulatory clarity could strike bitcoin to $225,000 this year, says h.c. wainwrightpro talks: grayscale's zach pandl on bitcoin's animate and the crypto market's setup for 2025[br]
