The post Bitcoin Price Rally Above $18 Ahead of Today’s Crucial CPI Data appeared first on Coinpedia Fintech News
Bitcoin price has gained approximately 4.14 percent in the past 24 hours to trade around $18,163 during early Asian trading sessions on Thursday. The global crypto market capitalization pumped approximately 3.32 percent to stand at approximately $885.59 billion today. The stock market led by key indexes like Dow, S & P 500, and Nasdaq also rallied ahead of today’s December Consumer Price Index (CPI) report for investors.
The Consumer Price Index (CPI) from the Bureau of Labor Statistics shows how the prices of goods and services changed in a given month. Notably, consumer prices account for a majority of overall economic inflation.
While the United States controls approximately 25 percent of the global economic activities, market strategists believe today’s CPI data is crucial for the entire world including crypto assets. As such, economists polled by Dow Jones
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